Correlation Between Energia Latina and Ingevec
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By analyzing existing cross correlation between Energia Latina SA and Ingevec, you can compare the effects of market volatilities on Energia Latina and Ingevec 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 Ingevec. Check out your portfolio center. Please also check ongoing floating volatility patterns of Energia Latina and Ingevec.
Diversification Opportunities for Energia Latina and Ingevec
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Energia and Ingevec is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding Energia Latina SA and Ingevec in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ingevec 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 Ingevec. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ingevec has no effect on the direction of Energia Latina i.e., Energia Latina and Ingevec go up and down completely randomly.
Pair Corralation between Energia Latina and Ingevec
If you would invest 93,500 in Energia Latina SA on September 20, 2024 and sell it today you would earn a total of 0.00 from holding Energia Latina SA or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 68.18% |
| Values | Daily Returns |
Energia Latina SA vs. Ingevec
Performance |
| Timeline |
| Energia Latina SA |
| Ingevec |
Energia Latina and Ingevec Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Energia Latina and Ingevec
The main advantage of trading using opposite Energia Latina and Ingevec positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Energia Latina position performs unexpectedly, Ingevec 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 Ingevec will offset losses from the drop in Ingevec's long position.| Energia Latina vs. CAP SA | Energia Latina vs. Salfacorp | Energia Latina vs. Vina Concha To | Energia Latina vs. Sociedad Matriz SAAM |
| Ingevec vs. Energia Latina SA | Ingevec vs. Embotelladora Andina SA | Ingevec vs. Administradora Americana de | Ingevec 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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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