Correlation Between Enel Generacin and Electrolux
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By analyzing existing cross correlation between Enel Generacin Chile and Electrolux De Chile, you can compare the effects of market volatilities on Enel Generacin and Electrolux 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 Enel Generacin with a short position of Electrolux. Check out your portfolio center. Please also check ongoing floating volatility patterns of Enel Generacin and Electrolux.
Diversification Opportunities for Enel Generacin and Electrolux
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Enel and Electrolux is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Enel Generacin Chile and Electrolux De Chile in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Electrolux De Chile and Enel Generacin 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 Enel Generacin Chile are associated (or correlated) with Electrolux. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Electrolux De Chile has no effect on the direction of Enel Generacin i.e., Enel Generacin and Electrolux go up and down completely randomly.
Pair Corralation between Enel Generacin and Electrolux
If you would invest 30,859 in Enel Generacin Chile on September 1, 2024 and sell it today you would earn a total of 6,611 from holding Enel Generacin Chile or generate 21.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.82% |
| Values | Daily Returns |
Enel Generacin Chile vs. Electrolux De Chile
Performance |
| Timeline |
| Enel Generacin Chile |
| Electrolux De Chile |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Enel Generacin and Electrolux Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Enel Generacin and Electrolux
The main advantage of trading using opposite Enel Generacin and Electrolux positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Enel Generacin position performs unexpectedly, Electrolux 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 Electrolux will offset losses from the drop in Electrolux's long position.| Enel Generacin vs. Enel Amricas SA | Enel Generacin vs. Enel Chile SA | Enel Generacin vs. Aguas Andinas SA | Enel Generacin vs. Parq Arauco |
| Electrolux vs. Multiexport Foods SA | Electrolux vs. Banco de Credito | Electrolux vs. LATAM Airlines Group |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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