Correlation Between Delta Air and Grupo Carso
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By analyzing existing cross correlation between Delta Air Lines and Grupo Carso SAB, you can compare the effects of market volatilities on Delta Air and Grupo Carso 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 Delta Air with a short position of Grupo Carso. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delta Air and Grupo Carso.
Diversification Opportunities for Delta Air and Grupo Carso
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between Delta and Grupo is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding Delta Air Lines and Grupo Carso SAB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grupo Carso SAB and Delta Air 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 Delta Air Lines are associated (or correlated) with Grupo Carso. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grupo Carso SAB has no effect on the direction of Delta Air i.e., Delta Air and Grupo Carso go up and down completely randomly.
Pair Corralation between Delta Air and Grupo Carso
Assuming the 90 days trading horizon Delta Air Lines is expected to generate 1.45 times more return on investment than Grupo Carso. However, Delta Air is 1.45 times more volatile than Grupo Carso SAB. It trades about 0.22 of its potential returns per unit of risk. Grupo Carso SAB is currently generating about 0.05 per unit of risk. If you would invest 122,300 in Delta Air Lines on October 20, 2024 and sell it today you would earn a total of 14,229 from holding Delta Air Lines or generate 11.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Delta Air Lines vs. Grupo Carso SAB
Performance |
| Timeline |
| Delta Air Lines |
| Grupo Carso SAB |
Delta Air and Grupo Carso Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Delta Air and Grupo Carso
The main advantage of trading using opposite Delta Air and Grupo Carso positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Delta Air position performs unexpectedly, Grupo Carso 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 Carso will offset losses from the drop in Grupo Carso's long position.| Delta Air vs. Grupo Hotelero Santa | Delta Air vs. Capital One Financial | Delta Air vs. McEwen Mining | Delta Air vs. Ameriprise Financial |
| Grupo Carso vs. Grupo Financiero Inbursa | Grupo Carso vs. Alfa SAB de | Grupo Carso vs. Kimberly Clark de Mxico | Grupo Carso vs. Grupo Televisa SAB |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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