Correlation Between Compania and Ingevec
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By analyzing existing cross correlation between Compania De Inversiones and Ingevec, you can compare the effects of market volatilities on Compania 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 Compania with a short position of Ingevec. Check out your portfolio center. Please also check ongoing floating volatility patterns of Compania and Ingevec.
Diversification Opportunities for Compania and Ingevec
Pay attention - limited upside
The 3 months correlation between Compania and Ingevec is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Compania De Inversiones and Ingevec in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ingevec and Compania 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 Compania De Inversiones 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 Compania i.e., Compania and Ingevec go up and down completely randomly.
Pair Corralation between Compania and Ingevec
If you would invest 5,250 in Ingevec on September 19, 2024 and sell it today you would earn a total of 492.00 from holding Ingevec or generate 9.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Compania De Inversiones vs. Ingevec
Performance |
| Timeline |
| Compania De Inversiones |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Ingevec |
Compania and Ingevec Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Compania and Ingevec
The main advantage of trading using opposite Compania and Ingevec positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Compania 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.| Compania vs. Compania Cervecerias Unidas | Compania vs. Compania General de | Compania vs. Aguas Andinas SA | Compania vs. Parq Arauco |
| Ingevec vs. Aguas Andinas SA | Ingevec vs. Parq Arauco | Ingevec vs. Enel Generacin Chile | Ingevec vs. Sociedad Matriz SAAM |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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