Correlation Between Fibra Plus and GMxico Transportes
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By analyzing existing cross correlation between Fibra Plus and GMxico Transportes SAB, you can compare the effects of market volatilities on Fibra Plus and GMxico Transportes 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 Fibra Plus with a short position of GMxico Transportes. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fibra Plus and GMxico Transportes.
Diversification Opportunities for Fibra Plus and GMxico Transportes
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Fibra and GMxico is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Fibra Plus and GMxico Transportes SAB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GMxico Transportes SAB and Fibra Plus 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 Fibra Plus are associated (or correlated) with GMxico Transportes. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GMxico Transportes SAB has no effect on the direction of Fibra Plus i.e., Fibra Plus and GMxico Transportes go up and down completely randomly.
Pair Corralation between Fibra Plus and GMxico Transportes
Assuming the 90 days trading horizon Fibra Plus is expected to under-perform the GMxico Transportes. In addition to that, Fibra Plus is 1.65 times more volatile than GMxico Transportes SAB. It trades about -0.01 of its total potential returns per unit of risk. GMxico Transportes SAB is currently generating about -0.01 per unit of volatility. If you would invest 3,621 in GMxico Transportes SAB on September 12, 2024 and sell it today you would lose (408.00) from holding GMxico Transportes SAB or give up 11.27% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.72% |
| Values | Daily Returns |
Fibra Plus vs. GMxico Transportes SAB
Performance |
| Timeline |
| Fibra Plus |
| GMxico Transportes SAB |
Fibra Plus and GMxico Transportes Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fibra Plus and GMxico Transportes
The main advantage of trading using opposite Fibra Plus and GMxico Transportes positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fibra Plus position performs unexpectedly, GMxico Transportes 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 GMxico Transportes will offset losses from the drop in GMxico Transportes' long position.| Fibra Plus vs. United States Steel | Fibra Plus vs. GMxico Transportes SAB | Fibra Plus vs. McEwen Mining | Fibra Plus vs. Monster Beverage Corp |
| GMxico Transportes vs. Grupo Mxico SAB | GMxico Transportes vs. The Select Sector | GMxico Transportes vs. Promotora y Operadora | GMxico Transportes vs. iShares Global Timber |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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