Correlation Between Pebblebrook Hotel and ACCESS Newswire
Can any of the company-specific risk be diversified away by investing in both Pebblebrook Hotel and ACCESS Newswire 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 Pebblebrook Hotel and ACCESS Newswire into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Pebblebrook Hotel Trust and ACCESS Newswire, you can compare the effects of market volatilities on Pebblebrook Hotel and ACCESS Newswire 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 Pebblebrook Hotel with a short position of ACCESS Newswire. Check out your portfolio center. Please also check ongoing floating volatility patterns of Pebblebrook Hotel and ACCESS Newswire.
Diversification Opportunities for Pebblebrook Hotel and ACCESS Newswire
0.25 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Pebblebrook and ACCESS is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding Pebblebrook Hotel Trust and ACCESS Newswire in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ACCESS Newswire and Pebblebrook Hotel 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 Pebblebrook Hotel Trust are associated (or correlated) with ACCESS Newswire. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ACCESS Newswire has no effect on the direction of Pebblebrook Hotel i.e., Pebblebrook Hotel and ACCESS Newswire go up and down completely randomly.
Pair Corralation between Pebblebrook Hotel and ACCESS Newswire
Assuming the 90 days trading horizon Pebblebrook Hotel is expected to generate 1.45 times less return on investment than ACCESS Newswire. But when comparing it to its historical volatility, Pebblebrook Hotel Trust is 2.37 times less risky than ACCESS Newswire. It trades about 0.01 of its potential returns per unit of risk. ACCESS Newswire is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 1,169 in ACCESS Newswire on May 28, 2025 and sell it today you would lose (72.00) from holding ACCESS Newswire or give up 6.16% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Pebblebrook Hotel Trust vs. ACCESS Newswire
Performance |
Timeline |
Pebblebrook Hotel Trust |
ACCESS Newswire |
Pebblebrook Hotel and ACCESS Newswire Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Pebblebrook Hotel and ACCESS Newswire
The main advantage of trading using opposite Pebblebrook Hotel and ACCESS Newswire positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Pebblebrook Hotel position performs unexpectedly, ACCESS Newswire 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 ACCESS Newswire will offset losses from the drop in ACCESS Newswire's long position.Pebblebrook Hotel vs. Pebblebrook Hotel Trust | Pebblebrook Hotel vs. Summit Hotel Properties | Pebblebrook Hotel vs. Summit Hotel Properties | Pebblebrook Hotel vs. Pebblebrook Hotel Trust |
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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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