Correlation Between BK Variable and Naranja 2050
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By analyzing existing cross correlation between BK Variable Internacional and Naranja 2050 PP, you can compare the effects of market volatilities on BK Variable and Naranja 2050 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 BK Variable with a short position of Naranja 2050. Check out your portfolio center. Please also check ongoing floating volatility patterns of BK Variable and Naranja 2050.
Diversification Opportunities for BK Variable and Naranja 2050
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between 0P0000120T and Naranja is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding BK Variable Internacional and Naranja 2050 PP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Naranja 2050 PP and BK Variable 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 BK Variable Internacional are associated (or correlated) with Naranja 2050. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Naranja 2050 PP has no effect on the direction of BK Variable i.e., BK Variable and Naranja 2050 go up and down completely randomly.
Pair Corralation between BK Variable and Naranja 2050
Assuming the 90 days trading horizon BK Variable Internacional is expected to generate 1.35 times more return on investment than Naranja 2050. However, BK Variable is 1.35 times more volatile than Naranja 2050 PP. It trades about 0.12 of its potential returns per unit of risk. Naranja 2050 PP is currently generating about 0.11 per unit of risk. If you would invest 1,684 in BK Variable Internacional on August 30, 2024 and sell it today you would earn a total of 67.00 from holding BK Variable Internacional or generate 3.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 97.67% |
| Values | Daily Returns |
BK Variable Internacional vs. Naranja 2050 PP
Performance |
| Timeline |
| BK Variable Internacional |
| Naranja 2050 PP |
BK Variable and Naranja 2050 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BK Variable and Naranja 2050
The main advantage of trading using opposite BK Variable and Naranja 2050 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BK Variable position performs unexpectedly, Naranja 2050 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 Naranja 2050 will offset losses from the drop in Naranja 2050's long position.| BK Variable vs. Naranja Renta Fija | BK Variable vs. Indexa Ms Rentabilidad | BK Variable vs. Myinvestor Indexado Global | BK Variable vs. Hashflow USD |
| Naranja 2050 vs. Metrovacesa SA | Naranja 2050 vs. Endurance Motive SA | Naranja 2050 vs. Mapfre | Naranja 2050 vs. Amper SA |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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