Correlation Between BK Variable and Mi Proyecto
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By analyzing existing cross correlation between BK Variable Internacional and Mi Proyecto Santander, you can compare the effects of market volatilities on BK Variable and Mi Proyecto 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 Mi Proyecto. Check out your portfolio center. Please also check ongoing floating volatility patterns of BK Variable and Mi Proyecto.
Diversification Opportunities for BK Variable and Mi Proyecto
0.83 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between 0P0000120T and 0P0000UUV8 is 0.83. Overlapping area represents the amount of risk that can be diversified away by holding BK Variable Internacional and Mi Proyecto Santander in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mi Proyecto Santander 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 Mi Proyecto. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mi Proyecto Santander has no effect on the direction of BK Variable i.e., BK Variable and Mi Proyecto go up and down completely randomly.
Pair Corralation between BK Variable and Mi Proyecto
Assuming the 90 days trading horizon BK Variable Internacional is expected to generate 1.32 times more return on investment than Mi Proyecto. However, BK Variable is 1.32 times more volatile than Mi Proyecto Santander. It trades about 0.1 of its potential returns per unit of risk. Mi Proyecto Santander is currently generating about 0.13 per unit of risk. If you would invest 1,743 in BK Variable Internacional on September 12, 2024 and sell it today you would earn a total of 25.00 from holding BK Variable Internacional or generate 1.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
BK Variable Internacional vs. Mi Proyecto Santander
Performance |
| Timeline |
| BK Variable Internacional |
| Mi Proyecto Santander |
BK Variable and Mi Proyecto Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BK Variable and Mi Proyecto
The main advantage of trading using opposite BK Variable and Mi Proyecto positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BK Variable position performs unexpectedly, Mi Proyecto 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 Mi Proyecto will offset losses from the drop in Mi Proyecto's long position.| BK Variable vs. Metrovacesa SA | BK Variable vs. Elecnor SA | BK Variable vs. Mapfre | BK Variable vs. Amper SA |
| Mi Proyecto vs. BK Variable Internacional | Mi Proyecto vs. Naranja Renta Fija | Mi Proyecto vs. Indexa Ms Rentabilidad | Mi Proyecto vs. Myinvestor Indexado Global |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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