Correlation Between Rogers Communications and Killam Apartment
Can any of the company-specific risk be diversified away by investing in both Rogers Communications and Killam Apartment 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 Rogers Communications and Killam Apartment into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Rogers Communications and Killam Apartment Real, you can compare the effects of market volatilities on Rogers Communications and Killam Apartment 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 Rogers Communications with a short position of Killam Apartment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Rogers Communications and Killam Apartment.
Diversification Opportunities for Rogers Communications and Killam Apartment
-0.53 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Rogers and Killam is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding Rogers Communications and Killam Apartment Real in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Killam Apartment Real and Rogers Communications 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 Rogers Communications are associated (or correlated) with Killam Apartment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Killam Apartment Real has no effect on the direction of Rogers Communications i.e., Rogers Communications and Killam Apartment go up and down completely randomly.
Pair Corralation between Rogers Communications and Killam Apartment
Assuming the 90 days trading horizon Rogers Communications is expected to generate 1.59 times more return on investment than Killam Apartment. However, Rogers Communications is 1.59 times more volatile than Killam Apartment Real. It trades about 0.17 of its potential returns per unit of risk. Killam Apartment Real is currently generating about -0.09 per unit of risk. If you would invest 4,833 in Rogers Communications on August 2, 2025 and sell it today you would earn a total of 717.00 from holding Rogers Communications or generate 14.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Rogers Communications vs. Killam Apartment Real
Performance |
| Timeline |
| Rogers Communications |
| Killam Apartment Real |
Rogers Communications and Killam Apartment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Rogers Communications and Killam Apartment
The main advantage of trading using opposite Rogers Communications and Killam Apartment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Rogers Communications position performs unexpectedly, Killam Apartment 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 Killam Apartment will offset losses from the drop in Killam Apartment's long position.| Rogers Communications vs. Rogers Communications | Rogers Communications vs. BCE Inc | Rogers Communications vs. Telus Corp | Rogers Communications vs. Quebecor |
| Killam Apartment vs. Artis Real Estate | Killam Apartment vs. InterRent Real Estate | Killam Apartment vs. Allied Properties Real | Killam Apartment vs. Mainstreet Equity Corp |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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