Correlation Between BK Variable and Finizens Decidido
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By analyzing existing cross correlation between BK Variable Internacional and Finizens Decidido Pp, you can compare the effects of market volatilities on BK Variable and Finizens Decidido 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 Finizens Decidido. Check out your portfolio center. Please also check ongoing floating volatility patterns of BK Variable and Finizens Decidido.
Diversification Opportunities for BK Variable and Finizens Decidido
0.83 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between 0P0000120T and Finizens is 0.83. Overlapping area represents the amount of risk that can be diversified away by holding BK Variable Internacional and Finizens Decidido Pp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Finizens Decidido 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 Finizens Decidido. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Finizens Decidido has no effect on the direction of BK Variable i.e., BK Variable and Finizens Decidido go up and down completely randomly.
Pair Corralation between BK Variable and Finizens Decidido
Assuming the 90 days trading horizon BK Variable Internacional is expected to generate 1.35 times more return on investment than Finizens Decidido. However, BK Variable is 1.35 times more volatile than Finizens Decidido Pp. It trades about 0.14 of its potential returns per unit of risk. Finizens Decidido Pp is currently generating about 0.09 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 33.00 from holding BK Variable Internacional or generate 1.89% 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. Finizens Decidido Pp
Performance |
| Timeline |
| BK Variable Internacional |
| Finizens Decidido |
BK Variable and Finizens Decidido Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BK Variable and Finizens Decidido
The main advantage of trading using opposite BK Variable and Finizens Decidido positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BK Variable position performs unexpectedly, Finizens Decidido 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 Finizens Decidido will offset losses from the drop in Finizens Decidido's long position.| BK Variable vs. Metrovacesa SA | BK Variable vs. Elecnor SA | BK Variable vs. Mapfre | BK Variable vs. Amper SA |
| Finizens Decidido vs. Metrovacesa SA | Finizens Decidido vs. Elecnor SA | Finizens Decidido vs. Mapfre | Finizens Decidido 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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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