Correlation Between Grupo Comercial and Gentera SAB
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By analyzing existing cross correlation between Grupo Comercial Chedraui and Gentera SAB de, you can compare the effects of market volatilities on Grupo Comercial and Gentera SAB 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 Comercial with a short position of Gentera SAB. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo Comercial and Gentera SAB.
Diversification Opportunities for Grupo Comercial and Gentera SAB
-0.88 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Grupo and Gentera is -0.88. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Comercial Chedraui and Gentera SAB de in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gentera SAB de and Grupo Comercial 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 Comercial Chedraui are associated (or correlated) with Gentera SAB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gentera SAB de has no effect on the direction of Grupo Comercial i.e., Grupo Comercial and Gentera SAB go up and down completely randomly.
Pair Corralation between Grupo Comercial and Gentera SAB
Assuming the 90 days trading horizon Grupo Comercial Chedraui is expected to generate 0.74 times more return on investment than Gentera SAB. However, Grupo Comercial Chedraui is 1.35 times less risky than Gentera SAB. It trades about 0.15 of its potential returns per unit of risk. Gentera SAB de is currently generating about 0.08 per unit of risk. If you would invest 12,611 in Grupo Comercial Chedraui on September 1, 2024 and sell it today you would earn a total of 654.00 from holding Grupo Comercial Chedraui or generate 5.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Grupo Comercial Chedraui vs. Gentera SAB de
Performance |
| Timeline |
| Grupo Comercial Chedraui |
| Gentera SAB de |
Grupo Comercial and Gentera SAB Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grupo Comercial and Gentera SAB
The main advantage of trading using opposite Grupo Comercial and Gentera SAB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo Comercial position performs unexpectedly, Gentera SAB 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 Gentera SAB will offset losses from the drop in Gentera SAB's long position.| Grupo Comercial vs. Genomma Lab Internacional | Grupo Comercial vs. El Puerto de | Grupo Comercial vs. Kimberly Clark de Mxico |
| Gentera SAB vs. Grupo Financiero Inbursa | Gentera SAB vs. Promotora y Operadora | Gentera SAB vs. ALPEK SAB de | Gentera SAB vs. Grupo Financiero Banorte |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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