Correlation Between CMR SAB and Gentera SAB
Specify exactly 2 symbols:
By analyzing existing cross correlation between CMR SAB de and Gentera SAB de, you can compare the effects of market volatilities on CMR SAB 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 CMR SAB with a short position of Gentera SAB. Check out your portfolio center. Please also check ongoing floating volatility patterns of CMR SAB and Gentera SAB.
Diversification Opportunities for CMR SAB and Gentera SAB
-0.39 | Correlation Coefficient |
Very good diversification
The 3 months correlation between CMR and Gentera is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding CMR SAB de 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 CMR SAB 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 CMR SAB de 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 CMR SAB i.e., CMR SAB and Gentera SAB go up and down completely randomly.
Pair Corralation between CMR SAB and Gentera SAB
Assuming the 90 days trading horizon CMR SAB de is expected to under-perform the Gentera SAB. In addition to that, CMR SAB is 2.82 times more volatile than Gentera SAB de. It trades about -0.01 of its total potential returns per unit of risk. Gentera SAB de is currently generating about 0.47 per unit of volatility. If you would invest 2,372 in Gentera SAB de on November 2, 2024 and sell it today you would earn a total of 496.00 from holding Gentera SAB de or generate 20.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
CMR SAB de vs. Gentera SAB de
Performance |
| Timeline |
| CMR SAB de |
| Gentera SAB de |
CMR SAB and Gentera SAB Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CMR SAB and Gentera SAB
The main advantage of trading using opposite CMR SAB and Gentera SAB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CMR SAB 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.| CMR SAB vs. Desarrolladora Homex SAB | CMR SAB vs. Axtel SAB de | CMR SAB vs. Organizacin Soriana S | CMR SAB 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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Other Complementary Tools
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes |