Correlation Between Finizens Decidido and BK Variable
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By analyzing existing cross correlation between Finizens Decidido Pp and BK Variable Internacional, you can compare the effects of market volatilities on Finizens Decidido and BK Variable 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 Finizens Decidido with a short position of BK Variable. Check out your portfolio center. Please also check ongoing floating volatility patterns of Finizens Decidido and BK Variable.
Diversification Opportunities for Finizens Decidido and BK Variable
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Finizens and 0P0000120T is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Finizens Decidido Pp and BK Variable Internacional in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BK Variable Internacional and Finizens Decidido 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 Finizens Decidido Pp are associated (or correlated) with BK Variable. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BK Variable Internacional has no effect on the direction of Finizens Decidido i.e., Finizens Decidido and BK Variable go up and down completely randomly.
Pair Corralation between Finizens Decidido and BK Variable
Assuming the 90 days trading horizon Finizens Decidido is expected to generate 1.41 times less return on investment than BK Variable. But when comparing it to its historical volatility, Finizens Decidido Pp is 1.41 times less risky than BK Variable. It trades about 0.09 of its potential returns per unit of risk. BK Variable Internacional is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 1,286 in BK Variable Internacional on September 4, 2024 and sell it today you would earn a total of 456.00 from holding BK Variable Internacional or generate 35.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 97.82% |
| Values | Daily Returns |
Finizens Decidido Pp vs. BK Variable Internacional
Performance |
| Timeline |
| Finizens Decidido |
| BK Variable Internacional |
Finizens Decidido and BK Variable Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Finizens Decidido and BK Variable
The main advantage of trading using opposite Finizens Decidido and BK Variable positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Finizens Decidido position performs unexpectedly, BK Variable 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 BK Variable will offset losses from the drop in BK Variable's long position.| Finizens Decidido vs. Metrovacesa SA | Finizens Decidido vs. Endurance Motive SA | Finizens Decidido vs. Elecnor SA | Finizens Decidido vs. Mapfre |
| BK Variable vs. Metrovacesa SA | BK Variable vs. Endurance Motive SA | BK Variable vs. Elecnor SA | BK Variable vs. Mapfre |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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