Correlation Between Credicorp and La Comer
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By analyzing existing cross correlation between Credicorp and La Comer SAB, you can compare the effects of market volatilities on Credicorp and La Comer 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 Credicorp with a short position of La Comer. Check out your portfolio center. Please also check ongoing floating volatility patterns of Credicorp and La Comer.
Diversification Opportunities for Credicorp and La Comer
Pay attention - limited upside
The 3 months correlation between Credicorp and LACOMERUBC is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding Credicorp and La Comer SAB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on La Comer SAB and Credicorp 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 Credicorp are associated (or correlated) with La Comer. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of La Comer SAB has no effect on the direction of Credicorp i.e., Credicorp and La Comer go up and down completely randomly.
Pair Corralation between Credicorp and La Comer
Assuming the 90 days trading horizon Credicorp is expected to generate 0.32 times more return on investment than La Comer. However, Credicorp is 3.13 times less risky than La Comer. It trades about -0.22 of its potential returns per unit of risk. La Comer SAB is currently generating about -0.14 per unit of risk. If you would invest 373,564 in Credicorp on October 20, 2024 and sell it today you would lose (9,564) from holding Credicorp or give up 2.56% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Credicorp vs. La Comer SAB
Performance |
| Timeline |
| Credicorp |
| La Comer SAB |
Credicorp and La Comer Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Credicorp and La Comer
The main advantage of trading using opposite Credicorp and La Comer positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Credicorp position performs unexpectedly, La Comer 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 La Comer will offset losses from the drop in La Comer's long position.| Credicorp vs. CMR SAB de | Credicorp vs. Emerson Electric Co | Credicorp vs. American Express | Credicorp vs. Tesla Inc |
| La Comer vs. Grupo Comercial Chedraui | La Comer vs. Gentera SAB de | La Comer vs. El Puerto de | La Comer vs. Organizacin Soriana S |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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