Correlation Between Gentera SAB and Grupo Comercial
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By analyzing existing cross correlation between Gentera SAB de and Grupo Comercial Chedraui, you can compare the effects of market volatilities on Gentera SAB and Grupo Comercial 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 Gentera SAB with a short position of Grupo Comercial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gentera SAB and Grupo Comercial.
Diversification Opportunities for Gentera SAB and Grupo Comercial
-0.88 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Gentera and Grupo is -0.88. Overlapping area represents the amount of risk that can be diversified away by holding Gentera SAB de and Grupo Comercial Chedraui in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grupo Comercial Chedraui and Gentera SAB 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 Gentera SAB de are associated (or correlated) with Grupo Comercial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grupo Comercial Chedraui has no effect on the direction of Gentera SAB i.e., Gentera SAB and Grupo Comercial go up and down completely randomly.
Pair Corralation between Gentera SAB and Grupo Comercial
Assuming the 90 days trading horizon Gentera SAB is expected to generate 1.42 times less return on investment than Grupo Comercial. In addition to that, Gentera SAB is 1.35 times more volatile than Grupo Comercial Chedraui. It trades about 0.08 of its total potential returns per unit of risk. Grupo Comercial Chedraui is currently generating about 0.15 per unit of volatility. If you would invest 12,611 in Grupo Comercial Chedraui on September 1, 2024 and sell it today you would earn a total of 654.00 from holding Grupo Comercial Chedraui or generate 5.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Gentera SAB de vs. Grupo Comercial Chedraui
Performance |
| Timeline |
| Gentera SAB de |
| Grupo Comercial Chedraui |
Gentera SAB and Grupo Comercial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gentera SAB and Grupo Comercial
The main advantage of trading using opposite Gentera SAB and Grupo Comercial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gentera SAB position performs unexpectedly, Grupo Comercial 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 Comercial will offset losses from the drop in Grupo Comercial's long position.| Gentera SAB vs. Grupo Financiero Inbursa | Gentera SAB vs. Promotora y Operadora | Gentera SAB vs. ALPEK SAB de | Gentera SAB vs. Grupo Financiero Banorte |
| Grupo Comercial vs. Genomma Lab Internacional | Grupo Comercial vs. El Puerto de | Grupo Comercial vs. Kimberly Clark de Mxico |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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