Correlation Between Fibra Danhos and Banco Actinver
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By analyzing existing cross correlation between Fibra Danhos and Banco Actinver SA, you can compare the effects of market volatilities on Fibra Danhos and Banco Actinver 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 Fibra Danhos with a short position of Banco Actinver. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fibra Danhos and Banco Actinver.
Diversification Opportunities for Fibra Danhos and Banco Actinver
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Fibra and Banco is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding Fibra Danhos and Banco Actinver SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Banco Actinver SA and Fibra Danhos 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 Fibra Danhos are associated (or correlated) with Banco Actinver. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Banco Actinver SA has no effect on the direction of Fibra Danhos i.e., Fibra Danhos and Banco Actinver go up and down completely randomly.
Pair Corralation between Fibra Danhos and Banco Actinver
Assuming the 90 days trading horizon Fibra Danhos is expected to generate 0.75 times more return on investment than Banco Actinver. However, Fibra Danhos is 1.33 times less risky than Banco Actinver. It trades about -0.06 of its potential returns per unit of risk. Banco Actinver SA is currently generating about -0.16 per unit of risk. If you would invest 2,210 in Fibra Danhos on October 25, 2024 and sell it today you would lose (114.00) from holding Fibra Danhos or give up 5.16% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 97.56% |
| Values | Daily Returns |
Fibra Danhos vs. Banco Actinver SA
Performance |
| Timeline |
| Fibra Danhos |
| Banco Actinver SA |
Fibra Danhos and Banco Actinver Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fibra Danhos and Banco Actinver
The main advantage of trading using opposite Fibra Danhos and Banco Actinver positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fibra Danhos position performs unexpectedly, Banco Actinver 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 Banco Actinver will offset losses from the drop in Banco Actinver's long position.| Fibra Danhos vs. FIBRA Macquarie Mxico | Fibra Danhos vs. Fibra UNO | Fibra Danhos vs. Fibra Mty SAPI | Fibra Danhos vs. FIBRA Prologis |
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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 Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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