Correlation Between Cresud SACIF and 694308KB2
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By analyzing existing cross correlation between Cresud SACIF y and PCG 42 01 MAR 29, you can compare the effects of market volatilities on Cresud SACIF and 694308KB2 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 Cresud SACIF with a short position of 694308KB2. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cresud SACIF and 694308KB2.
Diversification Opportunities for Cresud SACIF and 694308KB2
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Cresud and 694308KB2 is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding Cresud SACIF y and PCG 42 01 MAR 29 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PCG 42 01 and Cresud SACIF 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 Cresud SACIF y are associated (or correlated) with 694308KB2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PCG 42 01 has no effect on the direction of Cresud SACIF i.e., Cresud SACIF and 694308KB2 go up and down completely randomly.
Pair Corralation between Cresud SACIF and 694308KB2
Assuming the 90 days horizon Cresud SACIF y is expected to generate 3.38 times more return on investment than 694308KB2. However, Cresud SACIF is 3.38 times more volatile than PCG 42 01 MAR 29. It trades about 0.08 of its potential returns per unit of risk. PCG 42 01 MAR 29 is currently generating about 0.03 per unit of risk. If you would invest 553.00 in Cresud SACIF y on October 5, 2024 and sell it today you would earn a total of 785.00 from holding Cresud SACIF y or generate 141.95% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 67.44% |
Values | Daily Returns |
Cresud SACIF y vs. PCG 42 01 MAR 29
Performance |
Timeline |
Cresud SACIF y |
PCG 42 01 |
Cresud SACIF and 694308KB2 Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Cresud SACIF and 694308KB2
The main advantage of trading using opposite Cresud SACIF and 694308KB2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cresud SACIF position performs unexpectedly, 694308KB2 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 694308KB2 will offset losses from the drop in 694308KB2's long position.Cresud SACIF vs. Griffon | Cresud SACIF vs. Matthews International | Cresud SACIF vs. Valmont Industries | Cresud SACIF vs. Steel Partners Holdings |
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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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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