Correlation Between Amazon and Gentera SAB
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By analyzing existing cross correlation between Amazon Inc and Gentera SAB de, you can compare the effects of market volatilities on Amazon and Gentera SAB 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 Amazon with a short position of Gentera SAB. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amazon and Gentera SAB.
Diversification Opportunities for Amazon and Gentera SAB
0.34 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Amazon and Gentera is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding Amazon Inc and Gentera SAB de in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gentera SAB de and Amazon 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 Amazon Inc are associated (or correlated) with Gentera SAB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gentera SAB de has no effect on the direction of Amazon i.e., Amazon and Gentera SAB go up and down completely randomly.
Pair Corralation between Amazon and Gentera SAB
Assuming the 90 days trading horizon Amazon Inc is expected to under-perform the Gentera SAB. But the stock apears to be less risky and, when comparing its historical volatility, Amazon Inc is 1.66 times less risky than Gentera SAB. The stock trades about -0.35 of its potential returns per unit of risk. The Gentera SAB de is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 2,840 in Gentera SAB de on November 27, 2024 and sell it today you would earn a total of 148.00 from holding Gentera SAB de or generate 5.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Amazon Inc vs. Gentera SAB de
Performance |
| Timeline |
| Amazon Inc |
| Gentera SAB de |
Amazon and Gentera SAB Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amazon and Gentera SAB
The main advantage of trading using opposite Amazon and Gentera SAB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amazon position performs unexpectedly, Gentera SAB 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 Gentera SAB will offset losses from the drop in Gentera SAB's long position.| Amazon vs. DXC Technology | Amazon vs. Ross Stores | Amazon vs. CVS Health | Amazon vs. Air Transport Services |
| Gentera SAB vs. Grupo Financiero Inbursa | Gentera SAB vs. Promotora y Operadora | Gentera SAB vs. ALPEK SAB de | Gentera SAB vs. Grupo Financiero Banorte |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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