Correlation Between Gladstone Land and Gaming Leisure
Can any of the company-specific risk be diversified away by investing in both Gladstone Land and Gaming Leisure 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 Gladstone Land and Gaming Leisure into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Gladstone Land and Gaming Leisure Properties, you can compare the effects of market volatilities on Gladstone Land and Gaming Leisure 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 Gladstone Land with a short position of Gaming Leisure. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gladstone Land and Gaming Leisure.
Diversification Opportunities for Gladstone Land and Gaming Leisure
-0.41 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Gladstone and Gaming is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding Gladstone Land and Gaming Leisure Properties in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gaming Leisure Properties and Gladstone Land 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 Gladstone Land are associated (or correlated) with Gaming Leisure. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gaming Leisure Properties has no effect on the direction of Gladstone Land i.e., Gladstone Land and Gaming Leisure go up and down completely randomly.
Pair Corralation between Gladstone Land and Gaming Leisure
Given the investment horizon of 90 days Gladstone Land is expected to generate 1.27 times more return on investment than Gaming Leisure. However, Gladstone Land is 1.27 times more volatile than Gaming Leisure Properties. It trades about 0.07 of its potential returns per unit of risk. Gaming Leisure Properties is currently generating about -0.1 per unit of risk. If you would invest 880.00 in Gladstone Land on August 30, 2025 and sell it today you would earn a total of 51.00 from holding Gladstone Land or generate 5.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gladstone Land vs. Gaming Leisure Properties
Performance |
| Timeline |
| Gladstone Land |
| Gaming Leisure Properties |
Gladstone Land and Gaming Leisure Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gladstone Land and Gaming Leisure
The main advantage of trading using opposite Gladstone Land and Gaming Leisure positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gladstone Land position performs unexpectedly, Gaming Leisure 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 Gaming Leisure will offset losses from the drop in Gaming Leisure's long position.| Gladstone Land vs. Klegg Electronics | Gladstone Land vs. Global E Online | Gladstone Land vs. The Dewey Electronics | Gladstone Land vs. Kimball Electronics |
| Gaming Leisure vs. Canadian Utilities Limited | Gaming Leisure vs. Bebida Beverage Co | Gaming Leisure vs. Boston Beer | Gaming Leisure vs. Thai Beverage PCL |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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