Correlation Between Casa De and INVEX Controladora
Specify exactly 2 symbols:
By analyzing existing cross correlation between Casa de Bolsa and INVEX Controladora SAB, you can compare the effects of market volatilities on Casa De and INVEX Controladora 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 Casa De with a short position of INVEX Controladora. Check out your portfolio center. Please also check ongoing floating volatility patterns of Casa De and INVEX Controladora.
Diversification Opportunities for Casa De and INVEX Controladora
0.31 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Casa and INVEX is 0.31. Overlapping area represents the amount of risk that can be diversified away by holding Casa de Bolsa and INVEX Controladora SAB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INVEX Controladora SAB and Casa De 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 Casa de Bolsa are associated (or correlated) with INVEX Controladora. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INVEX Controladora SAB has no effect on the direction of Casa De i.e., Casa De and INVEX Controladora go up and down completely randomly.
Pair Corralation between Casa De and INVEX Controladora
Assuming the 90 days trading horizon Casa de Bolsa is expected to generate 0.63 times more return on investment than INVEX Controladora. However, Casa de Bolsa is 1.58 times less risky than INVEX Controladora. It trades about 0.1 of its potential returns per unit of risk. INVEX Controladora SAB is currently generating about 0.03 per unit of risk. If you would invest 2,850 in Casa de Bolsa on November 2, 2024 and sell it today you would earn a total of 86.00 from holding Casa de Bolsa or generate 3.02% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Casa de Bolsa vs. INVEX Controladora SAB
Performance |
| Timeline |
| Casa de Bolsa |
| INVEX Controladora SAB |
Casa De and INVEX Controladora Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Casa De and INVEX Controladora
The main advantage of trading using opposite Casa De and INVEX Controladora positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Casa De position performs unexpectedly, INVEX Controladora 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 INVEX Controladora will offset losses from the drop in INVEX Controladora's long position.| Casa De vs. First Republic Bank | Casa De vs. Grupo Sports World | Casa De vs. Lloyds Banking Group | Casa De vs. UnitedHealth Group Incorporated |
| INVEX Controladora vs. The Boeing | INVEX Controladora vs. Intuit Inc | INVEX Controladora vs. Mastercard Incorporated | INVEX Controladora vs. First Solar |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
Other Complementary Tools
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Stocks Directory Find actively traded stocks across global markets | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities |