Correlation Between AFP Capital and Inst Diagnosti
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By analyzing existing cross correlation between AFP Capital SA and Inst Diagnosti, you can compare the effects of market volatilities on AFP Capital and Inst Diagnosti 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 Inst Diagnosti. Check out your portfolio center. Please also check ongoing floating volatility patterns of AFP Capital and Inst Diagnosti.
Diversification Opportunities for AFP Capital and Inst Diagnosti
0.61 | Correlation Coefficient |
Poor diversification
The 3 months correlation between AFP and Inst is 0.61. Overlapping area represents the amount of risk that can be diversified away by holding AFP Capital SA and Inst Diagnosti in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Inst Diagnosti 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 Inst Diagnosti. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Inst Diagnosti has no effect on the direction of AFP Capital i.e., AFP Capital and Inst Diagnosti go up and down completely randomly.
Pair Corralation between AFP Capital and Inst Diagnosti
If you would invest 155,540 in Inst Diagnosti on September 19, 2024 and sell it today you would earn a total of 3,520 from holding Inst Diagnosti or generate 2.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 7.69% |
| Values | Daily Returns |
AFP Capital SA vs. Inst Diagnosti
Performance |
| Timeline |
| AFP Capital SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Inst Diagnosti |
AFP Capital and Inst Diagnosti Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AFP Capital and Inst Diagnosti
The main advantage of trading using opposite AFP Capital and Inst Diagnosti positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AFP Capital position performs unexpectedly, Inst Diagnosti 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 Inst Diagnosti will offset losses from the drop in Inst Diagnosti's long position.| AFP Capital vs. Salfacorp | AFP Capital vs. Vina Concha To | AFP Capital vs. Schwager | AFP Capital vs. HMC SA ADMINISTRADORA |
| Inst Diagnosti vs. Banco de Credito | Inst Diagnosti vs. LATAM Airlines Group | Inst Diagnosti vs. Multiexport Foods 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 Stocks Directory module to find actively traded stocks across global markets.
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