Correlation Between Gannett and SL Green
Can any of the company-specific risk be diversified away by investing in both Gannett and SL Green 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 Gannett and SL Green into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Gannett Co and SL Green Realty, you can compare the effects of market volatilities on Gannett and SL Green 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 Gannett with a short position of SL Green. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gannett and SL Green.
Diversification Opportunities for Gannett and SL Green
Pay attention - limited upside
The 3 months correlation between Gannett and SLG is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding Gannett Co and SL Green Realty in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SL Green Realty and Gannett 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 Gannett Co are associated (or correlated) with SL Green. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SL Green Realty has no effect on the direction of Gannett i.e., Gannett and SL Green go up and down completely randomly.
Pair Corralation between Gannett and SL Green
Considering the 90-day investment horizon Gannett Co is expected to generate 1.35 times more return on investment than SL Green. However, Gannett is 1.35 times more volatile than SL Green Realty. It trades about 0.12 of its potential returns per unit of risk. SL Green Realty is currently generating about -0.01 per unit of risk. If you would invest 356.00 in Gannett Co on June 9, 2025 and sell it today you would earn a total of 73.00 from holding Gannett Co or generate 20.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gannett Co vs. SL Green Realty
Performance |
| Timeline |
| Gannett |
| SL Green Realty |
Gannett and SL Green Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gannett and SL Green
The main advantage of trading using opposite Gannett and SL Green positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gannett position performs unexpectedly, SL Green 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 SL Green will offset losses from the drop in SL Green's long position.| Gannett vs. Dallasnews Corp | Gannett vs. Scholastic | Gannett vs. Pearson PLC ADR | Gannett vs. New York Times |
| SL Green vs. Boston Properties | SL Green vs. Douglas Emmett | SL Green vs. Kilroy Realty Corp | SL Green vs. Alexandria Real Estate |
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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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