Correlation Between Banco Macro and IRSA Propiedades
Can any of the company-specific risk be diversified away by investing in both Banco Macro and IRSA Propiedades at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Banco Macro and IRSA Propiedades into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Banco Macro SA and IRSA Propiedades Comerciales, you can compare the effects of market volatilities on Banco Macro and IRSA Propiedades 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 Banco Macro with a short position of IRSA Propiedades. Check out your portfolio center. Please also check ongoing floating volatility patterns of Banco Macro and IRSA Propiedades.
Diversification Opportunities for Banco Macro and IRSA Propiedades
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Banco and IRSA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Banco Macro SA and IRSA Propiedades Comerciales in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IRSA Propiedades Com and Banco Macro 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 Banco Macro SA are associated (or correlated) with IRSA Propiedades. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IRSA Propiedades Com has no effect on the direction of Banco Macro i.e., Banco Macro and IRSA Propiedades go up and down completely randomly.
Pair Corralation between Banco Macro and IRSA Propiedades
If you would invest 789,000 in Banco Macro SA on November 2, 2024 and sell it today you would earn a total of 421,000 from holding Banco Macro SA or generate 53.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.03% |
| Values | Daily Returns |
Banco Macro SA vs. IRSA Propiedades Comerciales
Performance |
| Timeline |
| Banco Macro SA |
| IRSA Propiedades Com |
Banco Macro and IRSA Propiedades Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Banco Macro and IRSA Propiedades
The main advantage of trading using opposite Banco Macro and IRSA Propiedades positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Banco Macro position performs unexpectedly, IRSA Propiedades 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 IRSA Propiedades will offset losses from the drop in IRSA Propiedades' long position.| Banco Macro vs. Banco Santander Ro | Banco Macro vs. Banco Patagonia | Banco Macro vs. Grupo Supervielle SA | Banco Macro vs. Banco Hipotecario SA |
| IRSA Propiedades vs. Harmony Gold Mining | IRSA Propiedades vs. Compania de Transporte | IRSA Propiedades vs. Transportadora de Gas | IRSA Propiedades vs. Agrometal SAI |
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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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