Correlation Between MBI Administradora and Multiexport Foods
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By analyzing existing cross correlation between MBI Administradora General and Multiexport Foods SA, you can compare the effects of market volatilities on MBI Administradora and Multiexport Foods 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 MBI Administradora with a short position of Multiexport Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of MBI Administradora and Multiexport Foods.
Diversification Opportunities for MBI Administradora and Multiexport Foods
-0.14 | Correlation Coefficient |
Good diversification
The 3 months correlation between MBI and Multiexport is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding MBI Administradora General and Multiexport Foods SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Multiexport Foods and MBI Administradora 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 MBI Administradora General are associated (or correlated) with Multiexport Foods. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Multiexport Foods has no effect on the direction of MBI Administradora i.e., MBI Administradora and Multiexport Foods go up and down completely randomly.
Pair Corralation between MBI Administradora and Multiexport Foods
Assuming the 90 days trading horizon MBI Administradora General is expected to generate 1.73 times more return on investment than Multiexport Foods. However, MBI Administradora is 1.73 times more volatile than Multiexport Foods SA. It trades about 0.03 of its potential returns per unit of risk. Multiexport Foods SA is currently generating about 0.02 per unit of risk. If you would invest 2,485,421 in MBI Administradora General on September 14, 2024 and sell it today you would earn a total of 249,662 from holding MBI Administradora General or generate 10.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 74.06% |
| Values | Daily Returns |
MBI Administradora General vs. Multiexport Foods SA
Performance |
| Timeline |
| MBI Administradora |
| Multiexport Foods |
MBI Administradora and Multiexport Foods Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MBI Administradora and Multiexport Foods
The main advantage of trading using opposite MBI Administradora and Multiexport Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MBI Administradora position performs unexpectedly, Multiexport Foods 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 Multiexport Foods will offset losses from the drop in Multiexport Foods' long position.| MBI Administradora vs. Fondo De Inversion | MBI Administradora vs. Prince of Wales | MBI Administradora vs. Moneda Deuda Latinoamericana | MBI Administradora vs. iShares Trust |
| Multiexport Foods vs. Aguas Andinas SA | Multiexport Foods vs. Parq Arauco | Multiexport Foods vs. Enel Generacin Chile | Multiexport Foods vs. Sociedad Matriz SAAM |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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