Correlation Between Grupo Aeroportuario and Grupo Financiero
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By analyzing existing cross correlation between Grupo Aeroportuario del and Grupo Financiero Inbursa, you can compare the effects of market volatilities on Grupo Aeroportuario and Grupo Financiero 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 Grupo Aeroportuario with a short position of Grupo Financiero. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo Aeroportuario and Grupo Financiero.
Diversification Opportunities for Grupo Aeroportuario and Grupo Financiero
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Grupo and Grupo is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Aeroportuario del and Grupo Financiero Inbursa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grupo Financiero Inbursa and Grupo Aeroportuario 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 Grupo Aeroportuario del are associated (or correlated) with Grupo Financiero. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grupo Financiero Inbursa has no effect on the direction of Grupo Aeroportuario i.e., Grupo Aeroportuario and Grupo Financiero go up and down completely randomly.
Pair Corralation between Grupo Aeroportuario and Grupo Financiero
Assuming the 90 days trading horizon Grupo Aeroportuario del is expected to generate 0.85 times more return on investment than Grupo Financiero. However, Grupo Aeroportuario del is 1.17 times less risky than Grupo Financiero. It trades about 0.22 of its potential returns per unit of risk. Grupo Financiero Inbursa is currently generating about 0.05 per unit of risk. If you would invest 35,160 in Grupo Aeroportuario del on August 30, 2024 and sell it today you would earn a total of 2,550 from holding Grupo Aeroportuario del or generate 7.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Grupo Aeroportuario del vs. Grupo Financiero Inbursa
Performance |
| Timeline |
| Grupo Aeroportuario del |
| Grupo Financiero Inbursa |
Grupo Aeroportuario and Grupo Financiero Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grupo Aeroportuario and Grupo Financiero
The main advantage of trading using opposite Grupo Aeroportuario and Grupo Financiero positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo Aeroportuario position performs unexpectedly, Grupo Financiero 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 Financiero will offset losses from the drop in Grupo Financiero's long position.| Grupo Aeroportuario vs. Grupo Profuturo SAB | Grupo Aeroportuario vs. Corporacin Inmobiliaria Vesta | Grupo Aeroportuario vs. Financiera Independencia SAB | Grupo Aeroportuario vs. The Select Sector |
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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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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