Correlation Between Guardian Logistica and BTG Pactual
Can any of the company-specific risk be diversified away by investing in both Guardian Logistica and BTG Pactual at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Guardian Logistica and BTG Pactual into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Guardian Logistica Fundo and BTG Pactual Logstica, you can compare the effects of market volatilities on Guardian Logistica and BTG Pactual 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 Guardian Logistica with a short position of BTG Pactual. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guardian Logistica and BTG Pactual.
Diversification Opportunities for Guardian Logistica and BTG Pactual
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Guardian and BTG is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Guardian Logistica Fundo and BTG Pactual Logstica in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BTG Pactual Logstica and Guardian Logistica 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 Guardian Logistica Fundo are associated (or correlated) with BTG Pactual. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BTG Pactual Logstica has no effect on the direction of Guardian Logistica i.e., Guardian Logistica and BTG Pactual go up and down completely randomly.
Pair Corralation between Guardian Logistica and BTG Pactual
Assuming the 90 days trading horizon Guardian Logistica Fundo is expected to generate 0.24 times more return on investment than BTG Pactual. However, Guardian Logistica Fundo is 4.15 times less risky than BTG Pactual. It trades about -0.04 of its potential returns per unit of risk. BTG Pactual Logstica is currently generating about -0.01 per unit of risk. If you would invest 931.00 in Guardian Logistica Fundo on December 3, 2024 and sell it today you would lose (23.00) from holding Guardian Logistica Fundo or give up 2.47% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guardian Logistica Fundo vs. BTG Pactual Logstica
Performance |
| Timeline |
| Guardian Logistica Fundo |
| BTG Pactual Logstica |
Guardian Logistica and BTG Pactual Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guardian Logistica and BTG Pactual
The main advantage of trading using opposite Guardian Logistica and BTG Pactual positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guardian Logistica position performs unexpectedly, BTG Pactual 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 BTG Pactual will offset losses from the drop in BTG Pactual's long position.| Guardian Logistica vs. Domo Fundo de | Guardian Logistica vs. Aesapar Fundo de | Guardian Logistica vs. Ourinvest Jpp Fundo | Guardian Logistica vs. Loft II Fundo |
| BTG Pactual vs. Btg Pactual Real | BTG Pactual vs. Fundo Investimento Imobiliario | BTG Pactual vs. KILIMA VOLKANO RECEBVEIS | BTG Pactual vs. DEVANT PROPERTIES FUNDO |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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