Correlation Between Brookfield Office and MYR
Can any of the company-specific risk be diversified away by investing in both Brookfield Office and MYR 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 Brookfield Office and MYR into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Brookfield Office Properties and MYR Group, you can compare the effects of market volatilities on Brookfield Office and MYR 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 Brookfield Office with a short position of MYR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Brookfield Office and MYR.
Diversification Opportunities for Brookfield Office and MYR
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Brookfield and MYR is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding Brookfield Office Properties and MYR Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MYR Group and Brookfield Office 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 Brookfield Office Properties are associated (or correlated) with MYR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MYR Group has no effect on the direction of Brookfield Office i.e., Brookfield Office and MYR go up and down completely randomly.
Pair Corralation between Brookfield Office and MYR
Assuming the 90 days horizon Brookfield Office is expected to generate 15.08 times less return on investment than MYR. But when comparing it to its historical volatility, Brookfield Office Properties is 11.04 times less risky than MYR. It trades about 0.12 of its potential returns per unit of risk. MYR Group is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest 17,458 in MYR Group on September 9, 2025 and sell it today you would earn a total of 5,853 from holding MYR Group or generate 33.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 98.46% |
| Values | Daily Returns |
Brookfield Office Properties vs. MYR Group
Performance |
| Timeline |
| Brookfield Office |
| MYR Group |
Brookfield Office and MYR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Brookfield Office and MYR
The main advantage of trading using opposite Brookfield Office and MYR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Brookfield Office position performs unexpectedly, MYR 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 MYR will offset losses from the drop in MYR's long position.| Brookfield Office vs. Minehub Technologies | Brookfield Office vs. NTG Clarity Networks | Brookfield Office vs. Cloopen Group Holding | Brookfield Office vs. 01 Communique Laboratory |
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 Channel module to use Commodity Channel Index to analyze current equity momentum.
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