Correlation Between Fibra Shop and FIBRA Storage
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By analyzing existing cross correlation between Fibra Shop and FIBRA Storage, you can compare the effects of market volatilities on Fibra Shop and FIBRA Storage 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 Shop with a short position of FIBRA Storage. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fibra Shop and FIBRA Storage.
Diversification Opportunities for Fibra Shop and FIBRA Storage
0.63 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Fibra and FIBRA is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding Fibra Shop and FIBRA Storage in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FIBRA Storage and Fibra Shop 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 Shop are associated (or correlated) with FIBRA Storage. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FIBRA Storage has no effect on the direction of Fibra Shop i.e., Fibra Shop and FIBRA Storage go up and down completely randomly.
Pair Corralation between Fibra Shop and FIBRA Storage
Assuming the 90 days trading horizon Fibra Shop is expected to generate 11.51 times less return on investment than FIBRA Storage. In addition to that, Fibra Shop is 2.78 times more volatile than FIBRA Storage. It trades about 0.02 of its total potential returns per unit of risk. FIBRA Storage is currently generating about 0.48 per unit of volatility. If you would invest 1,700 in FIBRA Storage on September 12, 2024 and sell it today you would earn a total of 90.00 from holding FIBRA Storage or generate 5.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fibra Shop vs. FIBRA Storage
Performance |
| Timeline |
| Fibra Shop |
| FIBRA Storage |
Fibra Shop and FIBRA Storage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fibra Shop and FIBRA Storage
The main advantage of trading using opposite Fibra Shop and FIBRA Storage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fibra Shop position performs unexpectedly, FIBRA Storage 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 FIBRA Storage will offset losses from the drop in FIBRA Storage's long position.| Fibra Shop vs. Grupo Sports World | Fibra Shop vs. KB Home | Fibra Shop vs. Grupo Carso SAB | Fibra Shop vs. Ameriprise Financial |
| FIBRA Storage vs. Apple Inc | FIBRA Storage vs. Microsoft | FIBRA Storage vs. Alphabet Inc Class A | FIBRA Storage vs. Alphabet Inc |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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