Correlation Between WFD Unibail and Azrieli
Can any of the company-specific risk be diversified away by investing in both WFD Unibail and Azrieli 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 WFD Unibail and Azrieli into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between WFD Unibail Rodamco and Azrieli Group, you can compare the effects of market volatilities on WFD Unibail and Azrieli 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 WFD Unibail with a short position of Azrieli. Check out your portfolio center. Please also check ongoing floating volatility patterns of WFD Unibail and Azrieli.
Diversification Opportunities for WFD Unibail and Azrieli
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between WFD and Azrieli is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding WFD Unibail Rodamco and Azrieli Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Azrieli Group and WFD Unibail 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 WFD Unibail Rodamco are associated (or correlated) with Azrieli. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Azrieli Group has no effect on the direction of WFD Unibail i.e., WFD Unibail and Azrieli go up and down completely randomly.
Pair Corralation between WFD Unibail and Azrieli
Assuming the 90 days horizon WFD Unibail is expected to generate 1.15 times less return on investment than Azrieli. In addition to that, WFD Unibail is 1.19 times more volatile than Azrieli Group. It trades about 0.04 of its total potential returns per unit of risk. Azrieli Group is currently generating about 0.05 per unit of volatility. If you would invest 9,979 in Azrieli Group on August 18, 2025 and sell it today you would earn a total of 371.00 from holding Azrieli Group or generate 3.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 98.48% |
| Values | Daily Returns |
WFD Unibail Rodamco vs. Azrieli Group
Performance |
| Timeline |
| WFD Unibail Rodamco |
| Azrieli Group |
WFD Unibail and Azrieli Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with WFD Unibail and Azrieli
The main advantage of trading using opposite WFD Unibail and Azrieli positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WFD Unibail position performs unexpectedly, Azrieli 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 Azrieli will offset losses from the drop in Azrieli's long position.| WFD Unibail vs. CapitaLand Integrated Commercial | WFD Unibail vs. Link Real Estate | WFD Unibail vs. Scentre Group | WFD Unibail vs. Segro Plc |
| Azrieli vs. Sino Land Co | Azrieli vs. SM Prime Holdings | Azrieli vs. Infrastrutture Wireless Italiane | Azrieli vs. Hongkong Land Holdings |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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