Correlation Between Banco Actinver and Grupo Cementos
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By analyzing existing cross correlation between Banco Actinver SA and Grupo Cementos de, you can compare the effects of market volatilities on Banco Actinver and Grupo Cementos 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 Grupo Cementos. Check out your portfolio center. Please also check ongoing floating volatility patterns of Banco Actinver and Grupo Cementos.
Diversification Opportunities for Banco Actinver and Grupo Cementos
-0.2 | Correlation Coefficient |
Good diversification
The 3 months correlation between Banco and Grupo is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding Banco Actinver SA and Grupo Cementos de in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grupo Cementos de 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 Grupo Cementos. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grupo Cementos de has no effect on the direction of Banco Actinver i.e., Banco Actinver and Grupo Cementos go up and down completely randomly.
Pair Corralation between Banco Actinver and Grupo Cementos
Assuming the 90 days trading horizon Banco Actinver SA is expected to under-perform the Grupo Cementos. But the stock apears to be less risky and, when comparing its historical volatility, Banco Actinver SA is 1.97 times less risky than Grupo Cementos. The stock trades about -0.02 of its potential returns per unit of risk. The Grupo Cementos de is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 15,130 in Grupo Cementos de on September 12, 2024 and sell it today you would earn a total of 3,518 from holding Grupo Cementos de or generate 23.25% 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. Grupo Cementos de
Performance |
| Timeline |
| Banco Actinver SA |
| Grupo Cementos de |
Banco Actinver and Grupo Cementos Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Banco Actinver and Grupo Cementos
The main advantage of trading using opposite Banco Actinver and Grupo Cementos positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Banco Actinver position performs unexpectedly, Grupo Cementos 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 Grupo Cementos will offset losses from the drop in Grupo Cementos' long position.| Banco Actinver vs. Southwest Airlines | Banco Actinver vs. Grupo Sports World | Banco Actinver vs. Verizon Communications | Banco Actinver vs. Hoteles City Express |
| Grupo Cementos vs. CEMEX SAB de | Grupo Cementos vs. Grupo Financiero Banorte | Grupo Cementos vs. Alfa SAB de | Grupo Cementos vs. Fomento Econmico Mexicano |
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 Stocks Directory module to find actively traded stocks across global markets.
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