Correlation Between City Office and Slate Office
Can any of the company-specific risk be diversified away by investing in both City Office and Slate Office 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 City Office and Slate Office into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between City Office and Slate Office REIT, you can compare the effects of market volatilities on City Office and Slate Office 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 City Office with a short position of Slate Office. Check out your portfolio center. Please also check ongoing floating volatility patterns of City Office and Slate Office.
Diversification Opportunities for City Office and Slate Office
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between City and Slate is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding City Office and Slate Office REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Slate Office REIT and City 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 City Office are associated (or correlated) with Slate Office. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Slate Office REIT has no effect on the direction of City Office i.e., City Office and Slate Office go up and down completely randomly.
Pair Corralation between City Office and Slate Office
If you would invest 694.00 in City Office on July 17, 2025 and sell it today you would earn a total of 3.00 from holding City Office or generate 0.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
City Office vs. Slate Office REIT
Performance |
| Timeline |
| City Office |
| Slate Office REIT |
City Office and Slate Office Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with City Office and Slate Office
The main advantage of trading using opposite City Office and Slate Office positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if City Office position performs unexpectedly, Slate Office 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 Slate Office will offset losses from the drop in Slate Office's long position.| City Office vs. Brandywine Realty Trust | City Office vs. Brixmor Property | City Office vs. Community Healthcare Trust | City Office vs. City Office REIT |
| Slate Office vs. Office Properties Income | Slate Office vs. NetEase | Slate Office vs. Bioelectronics Corp | Slate Office vs. Bit Brother Limited |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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