Correlation Between Banco Actinver and Coca Cola
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By analyzing existing cross correlation between Banco Actinver SA and Coca Cola FEMSA SAB, you can compare the effects of market volatilities on Banco Actinver and Coca Cola 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 Coca Cola. Check out your portfolio center. Please also check ongoing floating volatility patterns of Banco Actinver and Coca Cola.
Diversification Opportunities for Banco Actinver and Coca Cola
0.18 | Correlation Coefficient |
Average diversification
The 3 months correlation between Banco and Coca is 0.18. Overlapping area represents the amount of risk that can be diversified away by holding Banco Actinver SA and Coca Cola FEMSA SAB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Coca Cola FEMSA 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 Coca Cola. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coca Cola FEMSA has no effect on the direction of Banco Actinver i.e., Banco Actinver and Coca Cola go up and down completely randomly.
Pair Corralation between Banco Actinver and Coca Cola
Assuming the 90 days trading horizon Banco Actinver SA is expected to under-perform the Coca Cola. But the stock apears to be less risky and, when comparing its historical volatility, Banco Actinver SA is 1.04 times less risky than Coca Cola. The stock trades about -0.08 of its potential returns per unit of risk. The Coca Cola FEMSA SAB is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 16,021 in Coca Cola FEMSA SAB on September 3, 2024 and sell it today you would earn a total of 450.00 from holding Coca Cola FEMSA SAB or generate 2.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Banco Actinver SA vs. Coca Cola FEMSA SAB
Performance |
| Timeline |
| Banco Actinver SA |
| Coca Cola FEMSA |
Banco Actinver and Coca Cola Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Banco Actinver and Coca Cola
The main advantage of trading using opposite Banco Actinver and Coca Cola positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Banco Actinver position performs unexpectedly, Coca Cola 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 Coca Cola will offset losses from the drop in Coca Cola's long position.| Banco Actinver vs. Fibra UNO | Banco Actinver vs. Fibra Danhos | Banco Actinver vs. Fideicomiso Irrevocable No |
| Coca Cola vs. Arca Continental SAB | Coca Cola vs. Wal Mart de Mxico | Coca Cola vs. Fomento Econmico Mexicano | Coca Cola vs. Orbia Advance |
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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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