Correlation Between Workspace Group and Primaris Real

Can any of the company-specific risk be diversified away by investing in both Workspace Group and Primaris Real 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 Workspace Group and Primaris Real into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Workspace Group plc and Primaris Real Estate, you can compare the effects of market volatilities on Workspace Group and Primaris Real 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 Workspace Group with a short position of Primaris Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Workspace Group and Primaris Real.

Diversification Opportunities for Workspace Group and Primaris Real

0.0

Correlation Coefficient

Workspace Group  Primaris Real

Pay attention - limited upside

The 3 months correlation between Workspace and Primaris is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Workspace Group plc and Primaris Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Primaris Real Estate and Workspace Group 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 Workspace Group plc are associated (or correlated) with Primaris Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Primaris Real Estate has no effect on the direction of Workspace Group i.e., Workspace Group and Primaris Real go up and down completely randomly.

Pair Corralation between Workspace Group and Primaris Real

If you would invest  1,061  in Primaris Real Estate on August 1, 2025 and sell it today you would earn a total of  59.00  from holding Primaris Real Estate or generate 5.56% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	98.44%
Values	Daily Returns

Workspace Group plc  vs.  Primaris Real Estate

Workspace Group plc

Risk-Adjusted Performance

Weakest

Over the last 90 days Workspace Group plc has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable basic indicators, Workspace Group is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Primaris Real Estate

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in Primaris Real Estate are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. Despite nearly stable technical and fundamental indicators, Primaris Real is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with Workspace Group and Primaris Real

The main advantage of trading using opposite Workspace Group and Primaris Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Workspace Group position performs unexpectedly, Primaris Real 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 Primaris Real will offset losses from the drop in Primaris Real's long position.

The idea behind Workspace Group plc and Primaris Real Estate pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.