Correlation Between FIBRA Macquarie and Dow Jones
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By analyzing existing cross correlation between FIBRA Macquarie Mxico and Dow Jones Industrial, you can compare the effects of market volatilities on FIBRA Macquarie and Dow Jones 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 FIBRA Macquarie with a short position of Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of FIBRA Macquarie and Dow Jones.
Diversification Opportunities for FIBRA Macquarie and Dow Jones
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between FIBRA and Dow is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding FIBRA Macquarie Mxico and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial and FIBRA Macquarie 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 FIBRA Macquarie Mxico are associated (or correlated) with Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of FIBRA Macquarie i.e., FIBRA Macquarie and Dow Jones go up and down completely randomly.
Pair Corralation between FIBRA Macquarie and Dow Jones
Assuming the 90 days trading horizon FIBRA Macquarie is expected to generate 1.19 times less return on investment than Dow Jones. In addition to that, FIBRA Macquarie is 1.99 times more volatile than Dow Jones Industrial. It trades about 0.07 of its total potential returns per unit of risk. Dow Jones Industrial is currently generating about 0.16 per unit of volatility. If you would invest 3,857,103 in Dow Jones Industrial on August 30, 2024 and sell it today you would earn a total of 615,103 from holding Dow Jones Industrial or generate 15.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
FIBRA Macquarie Mxico vs. Dow Jones Industrial
Performance |
| Timeline |
FIBRA Macquarie and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
FIBRA Macquarie Mxico
Pair trading matchups for FIBRA Macquarie
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with FIBRA Macquarie and Dow Jones
The main advantage of trading using opposite FIBRA Macquarie and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FIBRA Macquarie position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| FIBRA Macquarie vs. FIBRA Prologis | FIBRA Macquarie vs. Fibra UNO | FIBRA Macquarie vs. Fibra Danhos | FIBRA Macquarie vs. Fibra Terrafina |
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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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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