Correlation Between Pea Verde and Grupo Elektra
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By analyzing existing cross correlation between Pea Verde SAB and Grupo Elektra SAB, you can compare the effects of market volatilities on Pea Verde and Grupo Elektra 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 Pea Verde with a short position of Grupo Elektra. Check out your portfolio center. Please also check ongoing floating volatility patterns of Pea Verde and Grupo Elektra.
Diversification Opportunities for Pea Verde and Grupo Elektra
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Pea and Grupo is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Pea Verde SAB and Grupo Elektra SAB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grupo Elektra SAB and Pea Verde 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 Pea Verde SAB are associated (or correlated) with Grupo Elektra. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grupo Elektra SAB has no effect on the direction of Pea Verde i.e., Pea Verde and Grupo Elektra go up and down completely randomly.
Pair Corralation between Pea Verde and Grupo Elektra
Assuming the 90 days horizon Pea Verde SAB is expected to generate 0.41 times more return on investment than Grupo Elektra. However, Pea Verde SAB is 2.41 times less risky than Grupo Elektra. It trades about -0.07 of its potential returns per unit of risk. Grupo Elektra SAB is currently generating about -0.05 per unit of risk. If you would invest 959.00 in Pea Verde SAB on September 24, 2024 and sell it today you would lose (334.00) from holding Pea Verde SAB or give up 34.83% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 99.6% |
Values | Daily Returns |
Pea Verde SAB vs. Grupo Elektra SAB
Performance |
Timeline |
Pea Verde SAB |
Grupo Elektra SAB |
Pea Verde and Grupo Elektra Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Pea Verde and Grupo Elektra
The main advantage of trading using opposite Pea Verde and Grupo Elektra positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Pea Verde position performs unexpectedly, Grupo Elektra 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 Elektra will offset losses from the drop in Grupo Elektra's long position.Pea Verde vs. Samsung Electronics Co | Pea Verde vs. Taiwan Semiconductor Manufacturing | Pea Verde vs. JPMorgan Chase Co | Pea Verde vs. Bank of America |
Grupo Elektra vs. Samsung Electronics Co | Grupo Elektra vs. Taiwan Semiconductor Manufacturing | Grupo Elektra vs. JPMorgan Chase Co | Grupo Elektra vs. Bank of America |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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