Correlation Between Baidu and Banco Actinver
Specify exactly 2 symbols:
By analyzing existing cross correlation between Baidu Inc and Banco Actinver SA, you can compare the effects of market volatilities on Baidu and Banco Actinver 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 Baidu with a short position of Banco Actinver. Check out your portfolio center. Please also check ongoing floating volatility patterns of Baidu and Banco Actinver.
Diversification Opportunities for Baidu and Banco Actinver
0.1 | Correlation Coefficient |
Average diversification
The 3 months correlation between Baidu and Banco is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding Baidu Inc and Banco Actinver SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Banco Actinver SA and Baidu 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 Baidu Inc are associated (or correlated) with Banco Actinver. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Banco Actinver SA has no effect on the direction of Baidu i.e., Baidu and Banco Actinver go up and down completely randomly.
Pair Corralation between Baidu and Banco Actinver
Assuming the 90 days trading horizon Baidu Inc is expected to generate 1.78 times more return on investment than Banco Actinver. However, Baidu is 1.78 times more volatile than Banco Actinver SA. It trades about 0.02 of its potential returns per unit of risk. Banco Actinver SA is currently generating about -0.08 per unit of risk. If you would invest 170,259 in Baidu Inc on September 3, 2024 and sell it today you would earn a total of 6,141 from holding Baidu Inc or generate 3.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Baidu Inc vs. Banco Actinver SA
Performance |
| Timeline |
| Baidu Inc |
| Banco Actinver SA |
Baidu and Banco Actinver Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Baidu and Banco Actinver
The main advantage of trading using opposite Baidu and Banco Actinver positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Baidu position performs unexpectedly, Banco Actinver 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 Banco Actinver will offset losses from the drop in Banco Actinver's long position.| Baidu vs. Prudential Financial | Baidu vs. Delta Air Lines | Baidu vs. Taiwan Semiconductor Manufacturing | Baidu vs. Applied Materials |
| Banco Actinver vs. Fibra UNO | Banco Actinver vs. Fibra Danhos | Banco Actinver vs. Fideicomiso Irrevocable No |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
Other Complementary Tools
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Stocks Directory Find actively traded stocks across global markets | |
| Money Managers Screen money managers from public funds and ETFs managed around the world |