Correlation Between Grupo Carso and Grupo Hotelero
Specify exactly 2 symbols:
By analyzing existing cross correlation between Grupo Carso SAB and Grupo Hotelero Santa, you can compare the effects of market volatilities on Grupo Carso and Grupo Hotelero 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 Grupo Carso with a short position of Grupo Hotelero. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo Carso and Grupo Hotelero.
Diversification Opportunities for Grupo Carso and Grupo Hotelero
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between Grupo and Grupo is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Carso SAB and Grupo Hotelero Santa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grupo Hotelero Santa and Grupo Carso 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 Grupo Carso SAB are associated (or correlated) with Grupo Hotelero. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grupo Hotelero Santa has no effect on the direction of Grupo Carso i.e., Grupo Carso and Grupo Hotelero go up and down completely randomly.
Pair Corralation between Grupo Carso and Grupo Hotelero
Assuming the 90 days trading horizon Grupo Carso SAB is expected to under-perform the Grupo Hotelero. But the stock apears to be less risky and, when comparing its historical volatility, Grupo Carso SAB is 1.24 times less risky than Grupo Hotelero. The stock trades about -0.03 of its potential returns per unit of risk. The Grupo Hotelero Santa is currently generating about -0.01 of returns per unit of risk over similar time horizon. If you would invest 380.00 in Grupo Hotelero Santa on December 7, 2024 and sell it today you would lose (10.00) from holding Grupo Hotelero Santa or give up 2.63% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Grupo Carso SAB vs. Grupo Hotelero Santa
Performance |
Timeline |
Grupo Carso SAB |
Grupo Hotelero Santa |
Grupo Carso and Grupo Hotelero Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Grupo Carso and Grupo Hotelero
The main advantage of trading using opposite Grupo Carso and Grupo Hotelero positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo Carso position performs unexpectedly, Grupo Hotelero 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 Hotelero will offset losses from the drop in Grupo Hotelero's long position.Grupo Carso vs. Grupo Financiero Inbursa | Grupo Carso vs. Alfa SAB de | Grupo Carso vs. Kimberly Clark de Mxico | Grupo Carso vs. Grupo Televisa SAB |
Grupo Hotelero vs. Steel Dynamics | Grupo Hotelero vs. Ameriprise Financial | Grupo Hotelero vs. Air Transport Services | Grupo Hotelero vs. The Bank of |
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 CEOs Directory module to screen CEOs from public companies around the world.
Other Complementary Tools
Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |