Correlation Between Pesquera Exalmar and Banco De
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By analyzing existing cross correlation between Pesquera Exalmar SAA and Banco de Credito, you can compare the effects of market volatilities on Pesquera Exalmar and Banco De 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 Pesquera Exalmar with a short position of Banco De. Check out your portfolio center. Please also check ongoing floating volatility patterns of Pesquera Exalmar and Banco De.
Diversification Opportunities for Pesquera Exalmar and Banco De
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Pesquera and Banco is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding Pesquera Exalmar SAA and Banco de Credito in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Banco de Credito and Pesquera Exalmar 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 Pesquera Exalmar SAA are associated (or correlated) with Banco De. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Banco de Credito has no effect on the direction of Pesquera Exalmar i.e., Pesquera Exalmar and Banco De go up and down completely randomly.
Pair Corralation between Pesquera Exalmar and Banco De
Assuming the 90 days trading horizon Pesquera Exalmar SAA is expected to generate 2.17 times more return on investment than Banco De. However, Pesquera Exalmar is 2.17 times more volatile than Banco de Credito. It trades about 0.29 of its potential returns per unit of risk. Banco de Credito is currently generating about 0.13 per unit of risk. If you would invest 174.00 in Pesquera Exalmar SAA on August 30, 2024 and sell it today you would earn a total of 76.00 from holding Pesquera Exalmar SAA or generate 43.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 34.43% |
| Values | Daily Returns |
Pesquera Exalmar SAA vs. Banco de Credito
Performance |
| Timeline |
| Pesquera Exalmar SAA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Solid
| Banco de Credito |
Pesquera Exalmar and Banco De Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Pesquera Exalmar and Banco De
The main advantage of trading using opposite Pesquera Exalmar and Banco De positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Pesquera Exalmar position performs unexpectedly, Banco De 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 Banco De will offset losses from the drop in Banco De's long position.| Pesquera Exalmar vs. InRetail Peru Corp | Pesquera Exalmar vs. Banco de Credito | Pesquera Exalmar vs. Bank of America |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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