Correlation Between Farmacias Benavides and G Collado
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By analyzing existing cross correlation between Farmacias Benavides SAB and G Collado SAB, you can compare the effects of market volatilities on Farmacias Benavides and G Collado 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 Farmacias Benavides with a short position of G Collado. Check out your portfolio center. Please also check ongoing floating volatility patterns of Farmacias Benavides and G Collado.
Diversification Opportunities for Farmacias Benavides and G Collado
-0.06 | Correlation Coefficient |
Good diversification
The 3 months correlation between Farmacias and COLLADO is -0.06. Overlapping area represents the amount of risk that can be diversified away by holding Farmacias Benavides SAB and G Collado SAB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on G Collado SAB and Farmacias Benavides 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 Farmacias Benavides SAB are associated (or correlated) with G Collado. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of G Collado SAB has no effect on the direction of Farmacias Benavides i.e., Farmacias Benavides and G Collado go up and down completely randomly.
Pair Corralation between Farmacias Benavides and G Collado
Assuming the 90 days trading horizon Farmacias Benavides SAB is expected to generate 6.74 times more return on investment than G Collado. However, Farmacias Benavides is 6.74 times more volatile than G Collado SAB. It trades about 0.09 of its potential returns per unit of risk. G Collado SAB is currently generating about 0.16 per unit of risk. If you would invest 2,000 in Farmacias Benavides SAB on September 23, 2024 and sell it today you would earn a total of 200.00 from holding Farmacias Benavides SAB or generate 10.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Farmacias Benavides SAB vs. G Collado SAB
Performance |
Timeline |
Farmacias Benavides SAB |
G Collado SAB |
Farmacias Benavides and G Collado Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Farmacias Benavides and G Collado
The main advantage of trading using opposite Farmacias Benavides and G Collado positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Farmacias Benavides position performs unexpectedly, G Collado 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 G Collado will offset losses from the drop in G Collado's long position.Farmacias Benavides vs. Enphase Energy, | Farmacias Benavides vs. Value Grupo Financiero | Farmacias Benavides vs. Prudential plc | Farmacias Benavides vs. Mastercard Incorporated |
G Collado vs. Pea Verde SAB | G Collado vs. Farmacias Benavides SAB | G Collado vs. Alfa SAB de | G Collado vs. Southern Copper |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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