Correlation Between Banco Actinver and Fibra Danhos
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By analyzing existing cross correlation between Banco Actinver SA and Fibra Danhos, you can compare the effects of market volatilities on Banco Actinver and Fibra Danhos 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 Banco Actinver with a short position of Fibra Danhos. Check out your portfolio center. Please also check ongoing floating volatility patterns of Banco Actinver and Fibra Danhos.
Diversification Opportunities for Banco Actinver and Fibra Danhos
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between Banco and Fibra is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Banco Actinver SA and Fibra Danhos in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fibra Danhos and Banco Actinver 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 Banco Actinver SA are associated (or correlated) with Fibra Danhos. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fibra Danhos has no effect on the direction of Banco Actinver i.e., Banco Actinver and Fibra Danhos go up and down completely randomly.
Pair Corralation between Banco Actinver and Fibra Danhos
Assuming the 90 days trading horizon Banco Actinver SA is expected to under-perform the Fibra Danhos. In addition to that, Banco Actinver is 1.23 times more volatile than Fibra Danhos. It trades about -0.15 of its total potential returns per unit of risk. Fibra Danhos is currently generating about 0.05 per unit of volatility. If you would invest 2,070 in Fibra Danhos on September 13, 2024 and sell it today you would earn a total of 80.00 from holding Fibra Danhos or generate 3.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Banco Actinver SA vs. Fibra Danhos
Performance |
| Timeline |
| Banco Actinver SA |
| Fibra Danhos |
Banco Actinver and Fibra Danhos Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Banco Actinver and Fibra Danhos
The main advantage of trading using opposite Banco Actinver and Fibra Danhos positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Banco Actinver position performs unexpectedly, Fibra Danhos 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 Fibra Danhos will offset losses from the drop in Fibra Danhos' long position.| Banco Actinver vs. Martin Marietta Materials | Banco Actinver vs. New Oriental Education | Banco Actinver vs. Cognizant Technology Solutions | Banco Actinver vs. UnitedHealth Group Incorporated |
| Fibra Danhos vs. Fibra UNO | Fibra Danhos vs. Banco Actinver SA | Fibra Danhos vs. Fideicomiso Irrevocable No |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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