Correlation Between Fibra Plus and United States
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By analyzing existing cross correlation between Fibra Plus and United States Steel, you can compare the effects of market volatilities on Fibra Plus and United States 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 United States. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fibra Plus and United States.
Diversification Opportunities for Fibra Plus and United States
-0.77 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Fibra and United is -0.77. Overlapping area represents the amount of risk that can be diversified away by holding Fibra Plus and United States Steel in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on United States Steel 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 United States. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of United States Steel has no effect on the direction of Fibra Plus i.e., Fibra Plus and United States go up and down completely randomly.
Pair Corralation between Fibra Plus and United States
Assuming the 90 days trading horizon Fibra Plus is expected to generate 0.33 times more return on investment than United States. However, Fibra Plus is 3.07 times less risky than United States. It trades about -0.2 of its potential returns per unit of risk. United States Steel is currently generating about -0.19 per unit of risk. If you would invest 548.00 in Fibra Plus on September 13, 2024 and sell it today you would lose (30.00) from holding Fibra Plus or give up 5.47% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Fibra Plus vs. United States Steel
Performance |
| Timeline |
| Fibra Plus |
| United States Steel |
Fibra Plus and United States Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fibra Plus and United States
The main advantage of trading using opposite Fibra Plus and United States positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fibra Plus position performs unexpectedly, United States 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 United States will offset losses from the drop in United States' long position.| Fibra Plus vs. GMxico Transportes SAB | Fibra Plus vs. DXC Technology | Fibra Plus vs. Micron Technology | Fibra Plus vs. Cognizant Technology Solutions |
| United States vs. Steel Dynamics | United States vs. Companhia Siderrgica Nacional | United States vs. The Select Sector | United States vs. Promotora y Operadora |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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