Correlation Between First Republic and Grupo Profuturo
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By analyzing existing cross correlation between First Republic Bank and Grupo Profuturo SAB, you can compare the effects of market volatilities on First Republic and Grupo Profuturo 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 First Republic with a short position of Grupo Profuturo. Check out your portfolio center. Please also check ongoing floating volatility patterns of First Republic and Grupo Profuturo.
Diversification Opportunities for First Republic and Grupo Profuturo
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between First and Grupo is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding First Republic Bank and Grupo Profuturo SAB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grupo Profuturo SAB and First Republic 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 First Republic Bank are associated (or correlated) with Grupo Profuturo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grupo Profuturo SAB has no effect on the direction of First Republic i.e., First Republic and Grupo Profuturo go up and down completely randomly.
Pair Corralation between First Republic and Grupo Profuturo
If you would invest 10,000 in Grupo Profuturo SAB on October 25, 2024 and sell it today you would earn a total of 814.00 from holding Grupo Profuturo SAB or generate 8.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
First Republic Bank vs. Grupo Profuturo SAB
Performance |
| Timeline |
| First Republic Bank |
| Grupo Profuturo SAB |
First Republic and Grupo Profuturo Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with First Republic and Grupo Profuturo
The main advantage of trading using opposite First Republic and Grupo Profuturo positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if First Republic position performs unexpectedly, Grupo Profuturo 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 Profuturo will offset losses from the drop in Grupo Profuturo's long position.| First Republic vs. Grupo Financiero Banorte | First Republic vs. Grupo Financiero Inbursa | First Republic vs. Banco del Bajo | First Republic vs. Fibra Mty SAPI |
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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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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