Correlation Between Grupo Carso and Intesa Sanpaolo

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Can any of the company-specific risk be diversified away by investing in both Grupo Carso and Intesa Sanpaolo 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 Grupo Carso and Intesa Sanpaolo into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Grupo Carso SAB and Intesa Sanpaolo SpA, you can compare the effects of market volatilities on Grupo Carso and Intesa Sanpaolo 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 Intesa Sanpaolo. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo Carso and Intesa Sanpaolo.

Diversification Opportunities for Grupo Carso and Intesa Sanpaolo

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  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between Grupo and Intesa is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Carso SAB and Intesa Sanpaolo SpA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intesa Sanpaolo SpA 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 Intesa Sanpaolo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intesa Sanpaolo SpA has no effect on the direction of Grupo Carso i.e., Grupo Carso and Intesa Sanpaolo go up and down completely randomly.

Pair Corralation between Grupo Carso and Intesa Sanpaolo

If you would invest (100.00) in Intesa Sanpaolo SpA on September 24, 2024 and sell it today you would earn a total of  100.00  from holding Intesa Sanpaolo SpA or generate -100.0% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Grupo Carso SAB  vs.  Intesa Sanpaolo SpA

 Performance 
       Timeline  
Grupo Carso SAB 

Risk-Adjusted Performance

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Over the last 90 days Grupo Carso SAB has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Stock's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the company investors.
Intesa Sanpaolo SpA 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days Intesa Sanpaolo SpA has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy basic indicators, Intesa Sanpaolo is not utilizing all of its potentials. The current stock price disarray, may contribute to short-term losses for the investors.

Grupo Carso and Intesa Sanpaolo Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Grupo Carso and Intesa Sanpaolo

The main advantage of trading using opposite Grupo Carso and Intesa Sanpaolo positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo Carso position performs unexpectedly, Intesa Sanpaolo 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 Intesa Sanpaolo will offset losses from the drop in Intesa Sanpaolo's long position.
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The idea behind Grupo Carso SAB and Intesa Sanpaolo SpA pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.

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