Correlation Between Capitania Securities and BTG Pactual
Specify exactly 2 symbols:
By analyzing existing cross correlation between Capitania Securities II and BTG Pactual Logstica, you can compare the effects of market volatilities on Capitania Securities and BTG Pactual 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 Capitania Securities with a short position of BTG Pactual. Check out your portfolio center. Please also check ongoing floating volatility patterns of Capitania Securities and BTG Pactual.
Diversification Opportunities for Capitania Securities and BTG Pactual
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Capitania and BTG is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding Capitania Securities II and BTG Pactual Logstica in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BTG Pactual Logstica and Capitania Securities 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 Capitania Securities II are associated (or correlated) with BTG Pactual. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BTG Pactual Logstica has no effect on the direction of Capitania Securities i.e., Capitania Securities and BTG Pactual go up and down completely randomly.
Pair Corralation between Capitania Securities and BTG Pactual
Assuming the 90 days trading horizon Capitania Securities II is expected to under-perform the BTG Pactual. In addition to that, Capitania Securities is 7.89 times more volatile than BTG Pactual Logstica. It trades about -0.07 of its total potential returns per unit of risk. BTG Pactual Logstica is currently generating about -0.01 per unit of volatility. If you would invest 9,726 in BTG Pactual Logstica on August 31, 2024 and sell it today you would lose (226.00) from holding BTG Pactual Logstica or give up 2.32% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.2% |
| Values | Daily Returns |
Capitania Securities II vs. BTG Pactual Logstica
Performance |
| Timeline |
| Capitania Securities |
| BTG Pactual Logstica |
Capitania Securities and BTG Pactual Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Capitania Securities and BTG Pactual
The main advantage of trading using opposite Capitania Securities and BTG Pactual positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Capitania Securities position performs unexpectedly, BTG Pactual 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 BTG Pactual will offset losses from the drop in BTG Pactual's long position.| Capitania Securities vs. Capitania Infra Fic | Capitania Securities vs. Capitania Agro Strategies | Capitania Securities vs. RB Capital Office | Capitania Securities vs. Ishares Msci Brazil |
| BTG Pactual vs. BTG Pactual Teva | BTG Pactual vs. BTG PACTUAL CRDITO | BTG Pactual vs. Real Estate Investment | BTG Pactual vs. NAVI CRDITO IMOBILIRIO |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
Other Complementary Tools
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments |