Correlation Between Cognizant Technology and Grupo Posadas
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By analyzing existing cross correlation between Cognizant Technology Solutions and Grupo Posadas SAB, you can compare the effects of market volatilities on Cognizant Technology and Grupo Posadas 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 Cognizant Technology with a short position of Grupo Posadas. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cognizant Technology and Grupo Posadas.
Diversification Opportunities for Cognizant Technology and Grupo Posadas
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cognizant and Grupo is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Cognizant Technology Solutions and Grupo Posadas SAB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grupo Posadas SAB and Cognizant Technology 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 Cognizant Technology Solutions are associated (or correlated) with Grupo Posadas. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grupo Posadas SAB has no effect on the direction of Cognizant Technology i.e., Cognizant Technology and Grupo Posadas go up and down completely randomly.
Pair Corralation between Cognizant Technology and Grupo Posadas
If you would invest 0.00 in Grupo Posadas SAB on October 25, 2024 and sell it today you would earn a total of 0.00 from holding Grupo Posadas SAB or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.0% |
| Values | Daily Returns |
Cognizant Technology Solutions vs. Grupo Posadas SAB
Performance |
| Timeline |
| Cognizant Technology |
| Grupo Posadas SAB |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Cognizant Technology and Grupo Posadas Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cognizant Technology and Grupo Posadas
The main advantage of trading using opposite Cognizant Technology and Grupo Posadas positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cognizant Technology position performs unexpectedly, Grupo Posadas 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 Grupo Posadas will offset losses from the drop in Grupo Posadas' long position.| Cognizant Technology vs. First Majestic Silver | Cognizant Technology vs. DXC Technology | Cognizant Technology vs. United Airlines Holdings | Cognizant Technology vs. McEwen Mining |
| Grupo Posadas vs. Verizon Communications | Grupo Posadas vs. Southern Copper | Grupo Posadas vs. Hoteles City Express | Grupo Posadas vs. Applied Materials |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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