Correlation Between Bolsa Mexicana and Grupo Gigante
Specify exactly 2 symbols:
By analyzing existing cross correlation between Bolsa Mexicana de and Grupo Gigante S, you can compare the effects of market volatilities on Bolsa Mexicana and Grupo Gigante 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 Bolsa Mexicana with a short position of Grupo Gigante. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bolsa Mexicana and Grupo Gigante.
Diversification Opportunities for Bolsa Mexicana and Grupo Gigante
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Bolsa and Grupo is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding Bolsa Mexicana de and Grupo Gigante S in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grupo Gigante S and Bolsa Mexicana 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 Bolsa Mexicana de are associated (or correlated) with Grupo Gigante. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grupo Gigante S has no effect on the direction of Bolsa Mexicana i.e., Bolsa Mexicana and Grupo Gigante go up and down completely randomly.
Pair Corralation between Bolsa Mexicana and Grupo Gigante
Assuming the 90 days trading horizon Bolsa Mexicana de is expected to under-perform the Grupo Gigante. But the stock apears to be less risky and, when comparing its historical volatility, Bolsa Mexicana de is 1.22 times less risky than Grupo Gigante. The stock trades about -0.18 of its potential returns per unit of risk. The Grupo Gigante S is currently generating about 0.33 of returns per unit of risk over similar time horizon. If you would invest 2,500 in Grupo Gigante S on October 10, 2024 and sell it today you would earn a total of 300.00 from holding Grupo Gigante S or generate 12.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 95.0% |
Values | Daily Returns |
Bolsa Mexicana de vs. Grupo Gigante S
Performance |
Timeline |
Bolsa Mexicana de |
Grupo Gigante S |
Bolsa Mexicana and Grupo Gigante Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Bolsa Mexicana and Grupo Gigante
The main advantage of trading using opposite Bolsa Mexicana and Grupo Gigante positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bolsa Mexicana position performs unexpectedly, Grupo Gigante 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 Grupo Gigante will offset losses from the drop in Grupo Gigante's long position.Bolsa Mexicana vs. Grupo Financiero Inbursa | Bolsa Mexicana vs. Genomma Lab Internacional | Bolsa Mexicana vs. Kimberly Clark de Mxico | Bolsa Mexicana vs. Grupo Aeroportuario del |
Grupo Gigante vs. Genworth Financial | Grupo Gigante vs. First Republic Bank | Grupo Gigante vs. FibraHotel | Grupo Gigante vs. Grupo Sports World |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
Stocks Directory Find actively traded stocks across global markets | |
ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
Money Managers Screen money managers from public funds and ETFs managed around the world |