Correlation Between Grupo Comercial and Promotora
Specify exactly 2 symbols:
By analyzing existing cross correlation between Grupo Comercial Chedraui and Promotora y Operadora, you can compare the effects of market volatilities on Grupo Comercial and Promotora 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 Promotora. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo Comercial and Promotora.
Diversification Opportunities for Grupo Comercial and Promotora
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between Grupo and Promotora is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Comercial Chedraui and Promotora y Operadora in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Promotora y Operadora 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 Promotora. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Promotora y Operadora has no effect on the direction of Grupo Comercial i.e., Grupo Comercial and Promotora go up and down completely randomly.
Pair Corralation between Grupo Comercial and Promotora
Assuming the 90 days trading horizon Grupo Comercial Chedraui is expected to under-perform the Promotora. But the stock apears to be less risky and, when comparing its historical volatility, Grupo Comercial Chedraui is 1.11 times less risky than Promotora. The stock trades about -0.1 of its potential returns per unit of risk. The Promotora y Operadora is currently generating about 0.37 of returns per unit of risk over similar time horizon. If you would invest 17,428 in Promotora y Operadora on November 2, 2024 and sell it today you would earn a total of 2,154 from holding Promotora y Operadora or generate 12.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Grupo Comercial Chedraui vs. Promotora y Operadora
Performance |
| Timeline |
| Grupo Comercial Chedraui |
| Promotora y Operadora |
Grupo Comercial and Promotora Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grupo Comercial and Promotora
The main advantage of trading using opposite Grupo Comercial and Promotora positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo Comercial position performs unexpectedly, Promotora 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 Promotora will offset losses from the drop in Promotora's long position.| Grupo Comercial vs. iShares Global Timber | Grupo Comercial vs. Vanguard World | Grupo Comercial vs. iShares Trust | Grupo Comercial vs. iShares Trust |
| Promotora vs. Gruma SAB de | Promotora vs. Grupo Aeroportuario del | Promotora vs. Grupo Aeroportuario del | Promotora vs. Grupo Aeroportuario del |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
Other Complementary Tools
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world |