Correlation Between Whitestone REIT and Healthpeak Properties
Can any of the company-specific risk be diversified away by investing in both Whitestone REIT and Healthpeak Properties 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 Whitestone REIT and Healthpeak Properties into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Whitestone REIT and Healthpeak Properties, you can compare the effects of market volatilities on Whitestone REIT and Healthpeak Properties 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 Whitestone REIT with a short position of Healthpeak Properties. Check out your portfolio center. Please also check ongoing floating volatility patterns of Whitestone REIT and Healthpeak Properties.
Diversification Opportunities for Whitestone REIT and Healthpeak Properties
0.97 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Whitestone and Healthpeak is 0.97. Overlapping area represents the amount of risk that can be diversified away by holding Whitestone REIT and Healthpeak Properties in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Healthpeak Properties and Whitestone REIT 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 Whitestone REIT are associated (or correlated) with Healthpeak Properties. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Healthpeak Properties has no effect on the direction of Whitestone REIT i.e., Whitestone REIT and Healthpeak Properties go up and down completely randomly.
Pair Corralation between Whitestone REIT and Healthpeak Properties
Considering the 90-day investment horizon Whitestone REIT is expected to under-perform the Healthpeak Properties. But the stock apears to be less risky and, when comparing its historical volatility, Whitestone REIT is 1.24 times less risky than Healthpeak Properties. The stock trades about -0.13 of its potential returns per unit of risk. The Healthpeak Properties is currently generating about -0.09 of returns per unit of risk over similar time horizon. If you would invest 1,762 in Healthpeak Properties on March 19, 2025 and sell it today you would lose (48.00) from holding Healthpeak Properties or give up 2.72% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Whitestone REIT vs. Healthpeak Properties
Performance |
| Timeline |
| Whitestone REIT |
| Healthpeak Properties |
Whitestone REIT and Healthpeak Properties Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Whitestone REIT and Healthpeak Properties
The main advantage of trading using opposite Whitestone REIT and Healthpeak Properties positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Whitestone REIT position performs unexpectedly, Healthpeak Properties 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 Healthpeak Properties will offset losses from the drop in Healthpeak Properties' long position.| Whitestone REIT vs. Regency Centers | Whitestone REIT vs. Saul Centers | Whitestone REIT vs. Rithm Property Trust | Whitestone REIT vs. Site Centers Corp |
| Healthpeak Properties vs. Healthcare Realty Trust | Healthpeak Properties vs. Sabra Healthcare REIT | Healthpeak Properties vs. Community Healthcare Trust | Healthpeak Properties vs. Universal Health Realty |
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 Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
Other Complementary Tools
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope |