Correlation Between Banco Actinver and Hoteles City
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By analyzing existing cross correlation between Banco Actinver SA and Hoteles City Express, you can compare the effects of market volatilities on Banco Actinver and Hoteles City 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 Hoteles City. Check out your portfolio center. Please also check ongoing floating volatility patterns of Banco Actinver and Hoteles City.
Diversification Opportunities for Banco Actinver and Hoteles City
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between Banco and Hoteles is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding Banco Actinver SA and Hoteles City Express in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hoteles City Express 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 Hoteles City. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hoteles City Express has no effect on the direction of Banco Actinver i.e., Banco Actinver and Hoteles City go up and down completely randomly.
Pair Corralation between Banco Actinver and Hoteles City
Assuming the 90 days trading horizon Banco Actinver SA is expected to under-perform the Hoteles City. But the stock apears to be less risky and, when comparing its historical volatility, Banco Actinver SA is 2.63 times less risky than Hoteles City. The stock trades about -0.07 of its potential returns per unit of risk. The Hoteles City Express is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 415.00 in Hoteles City Express on November 28, 2024 and sell it today you would earn a total of 35.00 from holding Hoteles City Express or generate 8.43% 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. Hoteles City Express
Performance |
| Timeline |
| Banco Actinver SA |
| Hoteles City Express |
Banco Actinver and Hoteles City Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Banco Actinver and Hoteles City
The main advantage of trading using opposite Banco Actinver and Hoteles City positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Banco Actinver position performs unexpectedly, Hoteles City 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 Hoteles City will offset losses from the drop in Hoteles City's long position.| Banco Actinver vs. Grupo Sports World | Banco Actinver vs. Martin Marietta Materials | Banco Actinver vs. Air Transport Services | Banco Actinver vs. United Airlines Holdings |
| Hoteles City vs. Controladora Vuela Compaa | Hoteles City vs. Alsea SAB de | Hoteles City vs. Nemak S A | Hoteles City vs. Grupo Comercial Chedraui |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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