Correlation Between Electrolux and Enel Generacin
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By analyzing existing cross correlation between Electrolux De Chile and Enel Generacin Chile, you can compare the effects of market volatilities on Electrolux and Enel Generacin 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 Electrolux with a short position of Enel Generacin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Electrolux and Enel Generacin.
Diversification Opportunities for Electrolux and Enel Generacin
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Electrolux and Enel is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Electrolux De Chile and Enel Generacin Chile in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Enel Generacin Chile and Electrolux 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 Electrolux De Chile are associated (or correlated) with Enel Generacin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Enel Generacin Chile has no effect on the direction of Electrolux i.e., Electrolux and Enel Generacin go up and down completely randomly.
Pair Corralation between Electrolux and Enel Generacin
If you would invest 34,410 in Enel Generacin Chile on August 30, 2024 and sell it today you would earn a total of 2,997 from holding Enel Generacin Chile or generate 8.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Electrolux De Chile vs. Enel Generacin Chile
Performance |
| Timeline |
| Electrolux De Chile |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Enel Generacin Chile |
Electrolux and Enel Generacin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Electrolux and Enel Generacin
The main advantage of trading using opposite Electrolux and Enel Generacin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Electrolux position performs unexpectedly, Enel Generacin 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 Enel Generacin will offset losses from the drop in Enel Generacin's long position.| Electrolux vs. Aguas Andinas SA | Electrolux vs. Parq Arauco | Electrolux vs. Enel Generacin Chile | Electrolux vs. Sociedad Matriz SAAM |
| Enel Generacin vs. Energia Latina SA | Enel Generacin vs. Administradora Americana de | Enel Generacin vs. Embotelladora Andina SA | Enel Generacin vs. Salfacorp |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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