Grupo Aeroportuario Correlations
| ASURB Stock | MXN 566.33 7.67 1.34% |
The current 90-days correlation between Grupo Aeroportuario del and Grupo Aeroportuario del is 0.71 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Grupo Aeroportuario moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Grupo Aeroportuario del moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Grupo Aeroportuario Correlation With Market
Significant diversification
The correlation between Grupo Aeroportuario del and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Aeroportuario del and DJI in the same portfolio, assuming nothing else is changed.
Grupo |
The ability to find closely correlated positions to Grupo Aeroportuario could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Grupo Aeroportuario when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Grupo Aeroportuario - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Grupo Aeroportuario del to buy it.
Related Correlations Analysis
| 0.74 | 0.23 | 0.72 | 0.58 | GAPB | ||
| 0.74 | 0.47 | 0.8 | 0.65 | OMAB | ||
| 0.23 | 0.47 | 0.55 | 0.75 | GRUMAB | ||
| 0.72 | 0.8 | 0.55 | 0.74 | GFNORTEO | ||
| 0.58 | 0.65 | 0.75 | 0.74 | ALFAA | ||
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Risk-Adjusted Indicators
There is a big difference between Grupo Stock performing well and Grupo Aeroportuario Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Grupo Aeroportuario's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GAPB | 1.37 | 0.08 | 0.05 | 2.03 | 1.67 | 3.00 | 8.79 | |||
| OMAB | 1.58 | 0.19 | 0.09 | 0.78 | 1.98 | 2.98 | 10.13 | |||
| GRUMAB | 1.09 | 0.18 | 0.13 | 1.22 | 1.25 | 1.95 | 9.60 | |||
| GFNORTEO | 1.20 | 0.09 | 0.06 | 0.76 | 1.43 | 2.07 | 7.98 | |||
| ALFAA | 1.41 | 0.18 | 0.09 | 1.47 | 1.92 | 2.72 | 11.19 |
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