Correlation Between Saul Centers and Marcus Millichap
Can any of the company-specific risk be diversified away by investing in both Saul Centers and Marcus Millichap at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Saul Centers and Marcus Millichap into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Saul Centers and Marcus Millichap, you can compare the effects of market volatilities on Saul Centers and Marcus Millichap and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Saul Centers with a short position of Marcus Millichap. Check out your portfolio center. Please also check ongoing floating volatility patterns of Saul Centers and Marcus Millichap.
Diversification Opportunities for Saul Centers and Marcus Millichap
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Saul and Marcus is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding Saul Centers and Marcus Millichap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marcus Millichap and Saul Centers is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Saul Centers are associated (or correlated) with Marcus Millichap. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marcus Millichap has no effect on the direction of Saul Centers i.e., Saul Centers and Marcus Millichap go up and down completely randomly.
Pair Corralation between Saul Centers and Marcus Millichap
Considering the 90-day investment horizon Saul Centers is expected to under-perform the Marcus Millichap. But the stock apears to be less risky and, when comparing its historical volatility, Saul Centers is 1.64 times less risky than Marcus Millichap. The stock trades about -0.06 of its potential returns per unit of risk. The Marcus Millichap is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest 3,039 in Marcus Millichap on August 17, 2025 and sell it today you would lose (136.00) from holding Marcus Millichap or give up 4.48% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Saul Centers vs. Marcus Millichap
Performance |
| Timeline |
| Saul Centers |
| Marcus Millichap |
Saul Centers and Marcus Millichap Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Saul Centers and Marcus Millichap
The main advantage of trading using opposite Saul Centers and Marcus Millichap positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Saul Centers position performs unexpectedly, Marcus Millichap can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Marcus Millichap will offset losses from the drop in Marcus Millichap's long position.| Saul Centers vs. AG Mortgage Investment | Saul Centers vs. Whitestone REIT | Saul Centers vs. CBL Associates Properties | Saul Centers vs. Redwood Trust |
| Marcus Millichap vs. Anywhere Real Estate | Marcus Millichap vs. Hotel101 Global Holdings | Marcus Millichap vs. Kennedy Wilson Holdings | Marcus Millichap vs. RLJ Lodging Trust |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Commodity Directory module to find actively traded commodities issued by global exchanges.
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