Correlation Between Fibra Plus and Grupo Hotelero
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By analyzing existing cross correlation between Fibra Plus and Grupo Hotelero Santa, you can compare the effects of market volatilities on Fibra Plus and Grupo Hotelero 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 Grupo Hotelero. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fibra Plus and Grupo Hotelero.
Diversification Opportunities for Fibra Plus and Grupo Hotelero
0.25 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Fibra and Grupo is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding Fibra Plus and Grupo Hotelero Santa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grupo Hotelero Santa 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 Grupo Hotelero. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grupo Hotelero Santa has no effect on the direction of Fibra Plus i.e., Fibra Plus and Grupo Hotelero go up and down completely randomly.
Pair Corralation between Fibra Plus and Grupo Hotelero
Assuming the 90 days trading horizon Fibra Plus is expected to generate 1.13 times more return on investment than Grupo Hotelero. However, Fibra Plus is 1.13 times more volatile than Grupo Hotelero Santa. It trades about 0.01 of its potential returns per unit of risk. Grupo Hotelero Santa is currently generating about -0.06 per unit of risk. If you would invest 600.00 in Fibra Plus on November 28, 2024 and sell it today you would earn a total of 0.00 from holding Fibra Plus or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fibra Plus vs. Grupo Hotelero Santa
Performance |
| Timeline |
| Fibra Plus |
| Grupo Hotelero Santa |
Fibra Plus and Grupo Hotelero Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fibra Plus and Grupo Hotelero
The main advantage of trading using opposite Fibra Plus and Grupo Hotelero positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fibra Plus position performs unexpectedly, Grupo Hotelero 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 Hotelero will offset losses from the drop in Grupo Hotelero's long position.| Fibra Plus vs. GMxico Transportes SAB | Fibra Plus vs. Cognizant Technology Solutions | Fibra Plus vs. Grupo Carso SAB | Fibra Plus vs. Deutsche Bank Aktiengesellschaft |
| Grupo Hotelero vs. United States Steel | Grupo Hotelero vs. Monster Beverage Corp | Grupo Hotelero vs. McEwen Mining | Grupo Hotelero vs. United Airlines Holdings |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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