Correlation Between Energia Latina and AFP Capital
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By analyzing existing cross correlation between Energia Latina SA and AFP Capital SA, you can compare the effects of market volatilities on Energia Latina and AFP Capital 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 Energia Latina with a short position of AFP Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Energia Latina and AFP Capital.
Diversification Opportunities for Energia Latina and AFP Capital
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Energia and AFP is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Energia Latina SA and AFP Capital SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AFP Capital SA and Energia Latina 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 Energia Latina SA are associated (or correlated) with AFP Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AFP Capital SA has no effect on the direction of Energia Latina i.e., Energia Latina and AFP Capital go up and down completely randomly.
Pair Corralation between Energia Latina and AFP Capital
If you would invest 25,000 in AFP Capital SA on August 24, 2024 and sell it today you would earn a total of 0.00 from holding AFP Capital SA or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 20.0% |
| Values | Daily Returns |
Energia Latina SA vs. AFP Capital SA
Performance |
| Timeline |
| Energia Latina SA |
| AFP Capital SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Energia Latina and AFP Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Energia Latina and AFP Capital
The main advantage of trading using opposite Energia Latina and AFP Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Energia Latina position performs unexpectedly, AFP Capital 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 AFP Capital will offset losses from the drop in AFP Capital's long position.| Energia Latina vs. Salfacorp | Energia Latina vs. Vina Concha To | Energia Latina vs. HMC SA ADMINISTRADORA | Energia Latina vs. Multiexport Foods SA |
| AFP Capital vs. Administradora Americana de | AFP Capital vs. Salfacorp | AFP Capital vs. Vina Concha To | AFP Capital vs. HMC SA ADMINISTRADORA |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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