Correlation Between Grupo Carso and DXC Technology
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By analyzing existing cross correlation between Grupo Carso SAB and DXC Technology, you can compare the effects of market volatilities on Grupo Carso and DXC Technology 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 Carso with a short position of DXC Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo Carso and DXC Technology.
Diversification Opportunities for Grupo Carso and DXC Technology
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Grupo and DXC is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Carso SAB and DXC Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DXC Technology and Grupo Carso 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 Carso SAB are associated (or correlated) with DXC Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DXC Technology has no effect on the direction of Grupo Carso i.e., Grupo Carso and DXC Technology go up and down completely randomly.
Pair Corralation between Grupo Carso and DXC Technology
Assuming the 90 days trading horizon Grupo Carso SAB is expected to generate 1.95 times more return on investment than DXC Technology. However, Grupo Carso is 1.95 times more volatile than DXC Technology. It trades about 0.04 of its potential returns per unit of risk. DXC Technology is currently generating about -0.07 per unit of risk. If you would invest 8,234 in Grupo Carso SAB on August 28, 2024 and sell it today you would earn a total of 3,544 from holding Grupo Carso SAB or generate 43.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Grupo Carso SAB vs. DXC Technology
Performance |
| Timeline |
| Grupo Carso SAB |
| DXC Technology |
Grupo Carso and DXC Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grupo Carso and DXC Technology
The main advantage of trading using opposite Grupo Carso and DXC Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo Carso position performs unexpectedly, DXC Technology 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 DXC Technology will offset losses from the drop in DXC Technology's long position.| Grupo Carso vs. Grupo Financiero Inbursa | Grupo Carso vs. Alfa SAB de | Grupo Carso vs. Kimberly Clark de Mxico | Grupo Carso vs. Grupo Televisa SAB |
| DXC Technology vs. Grupo Sports World | DXC Technology vs. Ross Stores | DXC Technology vs. Prudential Financial | DXC Technology vs. Southern Copper |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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