Correlation Between AFP Capital and Inversiones Aguas
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By analyzing existing cross correlation between AFP Capital SA and Inversiones Aguas Metropolitanas, you can compare the effects of market volatilities on AFP Capital and Inversiones Aguas 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 AFP Capital with a short position of Inversiones Aguas. Check out your portfolio center. Please also check ongoing floating volatility patterns of AFP Capital and Inversiones Aguas.
Diversification Opportunities for AFP Capital and Inversiones Aguas
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between AFP and Inversiones is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding AFP Capital SA and Inversiones Aguas Metropolitan in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Inversiones Aguas and AFP Capital 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 AFP Capital SA are associated (or correlated) with Inversiones Aguas. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Inversiones Aguas has no effect on the direction of AFP Capital i.e., AFP Capital and Inversiones Aguas go up and down completely randomly.
Pair Corralation between AFP Capital and Inversiones Aguas
If you would invest 73,000 in Inversiones Aguas Metropolitanas on September 20, 2024 and sell it today you would earn a total of 313.00 from holding Inversiones Aguas Metropolitanas or generate 0.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 4.35% |
| Values | Daily Returns |
AFP Capital SA vs. Inversiones Aguas Metropolitan
Performance |
| Timeline |
| AFP Capital SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Inversiones Aguas |
AFP Capital and Inversiones Aguas Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AFP Capital and Inversiones Aguas
The main advantage of trading using opposite AFP Capital and Inversiones Aguas positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AFP Capital position performs unexpectedly, Inversiones Aguas 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 Inversiones Aguas will offset losses from the drop in Inversiones Aguas' long position.| AFP Capital vs. Salfacorp | AFP Capital vs. Vina Concha To | AFP Capital vs. Schwager | AFP Capital vs. HMC SA ADMINISTRADORA |
| Inversiones Aguas vs. Aguas Andinas SA | Inversiones Aguas vs. Engie Energia Chile | Inversiones Aguas vs. Colbun | Inversiones Aguas vs. Enel Chile 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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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