Correlation Between ALPEK SAB and Grupo Financiero
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By analyzing existing cross correlation between ALPEK SAB de and Grupo Financiero Inbursa, you can compare the effects of market volatilities on ALPEK SAB and Grupo Financiero 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 ALPEK SAB with a short position of Grupo Financiero. Check out your portfolio center. Please also check ongoing floating volatility patterns of ALPEK SAB and Grupo Financiero.
Diversification Opportunities for ALPEK SAB and Grupo Financiero
-0.38 | Correlation Coefficient |
Very good diversification
The 3 months correlation between ALPEK and Grupo is -0.38. Overlapping area represents the amount of risk that can be diversified away by holding ALPEK SAB de and Grupo Financiero Inbursa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grupo Financiero Inbursa and ALPEK SAB 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 ALPEK SAB de are associated (or correlated) with Grupo Financiero. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grupo Financiero Inbursa has no effect on the direction of ALPEK SAB i.e., ALPEK SAB and Grupo Financiero go up and down completely randomly.
Pair Corralation between ALPEK SAB and Grupo Financiero
Assuming the 90 days trading horizon ALPEK SAB de is expected to generate 1.37 times more return on investment than Grupo Financiero. However, ALPEK SAB is 1.37 times more volatile than Grupo Financiero Inbursa. It trades about 0.15 of its potential returns per unit of risk. Grupo Financiero Inbursa is currently generating about -0.02 per unit of risk. If you would invest 1,284 in ALPEK SAB de on August 28, 2024 and sell it today you would earn a total of 93.00 from holding ALPEK SAB de or generate 7.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
ALPEK SAB de vs. Grupo Financiero Inbursa
Performance |
| Timeline |
| ALPEK SAB de |
| Grupo Financiero Inbursa |
ALPEK SAB and Grupo Financiero Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ALPEK SAB and Grupo Financiero
The main advantage of trading using opposite ALPEK SAB and Grupo Financiero positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ALPEK SAB position performs unexpectedly, Grupo Financiero 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 Grupo Financiero will offset losses from the drop in Grupo Financiero's long position.| ALPEK SAB vs. FIBRA Storage | ALPEK SAB vs. Promotora y Operadora | ALPEK SAB vs. The Select Sector | ALPEK SAB vs. Promotora y Operadora |
| Grupo Financiero vs. Grupo Financiero Banorte | Grupo Financiero vs. Grupo Carso SAB | Grupo Financiero vs. Kimberly Clark de Mxico | Grupo Financiero vs. Alfa SAB de |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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