Correlation Between Aguas Andinas and Electrolux
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By analyzing existing cross correlation between Aguas Andinas SA and Electrolux De Chile, you can compare the effects of market volatilities on Aguas Andinas and Electrolux 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 Aguas Andinas with a short position of Electrolux. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aguas Andinas and Electrolux.
Diversification Opportunities for Aguas Andinas and Electrolux
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Aguas and Electrolux is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Aguas Andinas SA and Electrolux De Chile in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Electrolux De Chile and Aguas Andinas 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 Aguas Andinas SA are associated (or correlated) with Electrolux. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Electrolux De Chile has no effect on the direction of Aguas Andinas i.e., Aguas Andinas and Electrolux go up and down completely randomly.
Pair Corralation between Aguas Andinas and Electrolux
If you would invest 27,200 in Aguas Andinas SA on September 1, 2024 and sell it today you would earn a total of 2,250 from holding Aguas Andinas SA or generate 8.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.82% |
| Values | Daily Returns |
Aguas Andinas SA vs. Electrolux De Chile
Performance |
| Timeline |
| Aguas Andinas SA |
| Electrolux De Chile |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Aguas Andinas and Electrolux Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aguas Andinas and Electrolux
The main advantage of trading using opposite Aguas Andinas and Electrolux positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aguas Andinas position performs unexpectedly, Electrolux 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 Electrolux will offset losses from the drop in Electrolux's long position.| Aguas Andinas vs. Banco de Credito | Aguas Andinas vs. LATAM Airlines Group | Aguas Andinas vs. Multiexport Foods SA |
| Electrolux vs. Multiexport Foods SA | Electrolux vs. Banco de Credito | Electrolux vs. LATAM Airlines Group |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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