Correlation Between AFP Capital and Ingevec
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By analyzing existing cross correlation between AFP Capital SA and Ingevec, you can compare the effects of market volatilities on AFP Capital and Ingevec 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 Ingevec. Check out your portfolio center. Please also check ongoing floating volatility patterns of AFP Capital and Ingevec.
Diversification Opportunities for AFP Capital and Ingevec
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between AFP and Ingevec is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding AFP Capital SA and Ingevec in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ingevec 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 Ingevec. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ingevec has no effect on the direction of AFP Capital i.e., AFP Capital and Ingevec go up and down completely randomly.
Pair Corralation between AFP Capital and Ingevec
If you would invest 25,000 in AFP Capital SA on September 19, 2024 and sell it today you would earn a total of 0.00 from holding AFP Capital SA or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 6.25% |
| Values | Daily Returns |
AFP Capital SA vs. Ingevec
Performance |
| Timeline |
| AFP Capital SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Ingevec |
AFP Capital and Ingevec Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AFP Capital and Ingevec
The main advantage of trading using opposite AFP Capital and Ingevec positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AFP Capital position performs unexpectedly, Ingevec 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 Ingevec will offset losses from the drop in Ingevec's long position.| AFP Capital vs. Salfacorp | AFP Capital vs. Vina Concha To | AFP Capital vs. Schwager | AFP Capital vs. HMC SA ADMINISTRADORA |
| Ingevec vs. Aguas Andinas SA | Ingevec vs. Parq Arauco | Ingevec vs. Enel Generacin Chile | Ingevec vs. Sociedad Matriz SAAM |
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 Channel module to use Commodity Channel Index to analyze current equity momentum.
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