Correlation Between FIBRA Storage and Starbucks
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By analyzing existing cross correlation between FIBRA Storage and Starbucks, you can compare the effects of market volatilities on FIBRA Storage and Starbucks 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 FIBRA Storage with a short position of Starbucks. Check out your portfolio center. Please also check ongoing floating volatility patterns of FIBRA Storage and Starbucks.
Diversification Opportunities for FIBRA Storage and Starbucks
0.42 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between FIBRA and Starbucks is 0.42. Overlapping area represents the amount of risk that can be diversified away by holding FIBRA Storage and Starbucks in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Starbucks and FIBRA Storage 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 FIBRA Storage are associated (or correlated) with Starbucks. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Starbucks has no effect on the direction of FIBRA Storage i.e., FIBRA Storage and Starbucks go up and down completely randomly.
Pair Corralation between FIBRA Storage and Starbucks
Assuming the 90 days trading horizon FIBRA Storage is expected to generate 0.52 times more return on investment than Starbucks. However, FIBRA Storage is 1.94 times less risky than Starbucks. It trades about 0.02 of its potential returns per unit of risk. Starbucks is currently generating about 0.0 per unit of risk. If you would invest 1,660 in FIBRA Storage on September 26, 2024 and sell it today you would earn a total of 128.00 from holding FIBRA Storage or generate 7.71% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 99.8% |
Values | Daily Returns |
FIBRA Storage vs. Starbucks
Performance |
Timeline |
FIBRA Storage |
Starbucks |
FIBRA Storage and Starbucks Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with FIBRA Storage and Starbucks
The main advantage of trading using opposite FIBRA Storage and Starbucks positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FIBRA Storage position performs unexpectedly, Starbucks 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 Starbucks will offset losses from the drop in Starbucks' long position.FIBRA Storage vs. Intel | FIBRA Storage vs. Procter Gamble DRC | FIBRA Storage vs. Advanced Micro Devices | FIBRA Storage vs. ATT Inc |
Starbucks vs. FIBRA Storage | Starbucks vs. Capital One Financial | Starbucks vs. GMxico Transportes SAB | Starbucks vs. Monster Beverage Corp |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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