Correlation Between Grupo Aeroportuario and BPCEGP
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By analyzing existing cross correlation between Grupo Aeroportuario del and BPCEGP 2045 19 OCT 27, you can compare the effects of market volatilities on Grupo Aeroportuario and BPCEGP 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 Grupo Aeroportuario with a short position of BPCEGP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo Aeroportuario and BPCEGP.
Diversification Opportunities for Grupo Aeroportuario and BPCEGP
-0.47 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Grupo and BPCEGP is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Aeroportuario del and BPCEGP 2045 19 OCT 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BPCEGP 2045 19 and Grupo Aeroportuario 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 Grupo Aeroportuario del are associated (or correlated) with BPCEGP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BPCEGP 2045 19 has no effect on the direction of Grupo Aeroportuario i.e., Grupo Aeroportuario and BPCEGP go up and down completely randomly.
Pair Corralation between Grupo Aeroportuario and BPCEGP
Considering the 90-day investment horizon Grupo Aeroportuario del is expected to generate 1.03 times more return on investment than BPCEGP. However, Grupo Aeroportuario is 1.03 times more volatile than BPCEGP 2045 19 OCT 27. It trades about -0.06 of its potential returns per unit of risk. BPCEGP 2045 19 OCT 27 is currently generating about -0.14 per unit of risk. If you would invest 30,418 in Grupo Aeroportuario del on September 2, 2024 and sell it today you would lose (4,404) from holding Grupo Aeroportuario del or give up 14.48% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 15.87% |
| Values | Daily Returns |
Grupo Aeroportuario del vs. BPCEGP 2045 19 OCT 27
Performance |
| Timeline |
| Grupo Aeroportuario del |
| BPCEGP 2045 19 |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Grupo Aeroportuario and BPCEGP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grupo Aeroportuario and BPCEGP
The main advantage of trading using opposite Grupo Aeroportuario and BPCEGP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo Aeroportuario position performs unexpectedly, BPCEGP 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 BPCEGP will offset losses from the drop in BPCEGP's long position.| Grupo Aeroportuario vs. Grupo Aeroportuario del | Grupo Aeroportuario vs. AerSale Corp | Grupo Aeroportuario vs. Flughafen Zrich AG | Grupo Aeroportuario vs. Grupo Aeroportuario del |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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