Correlation Between Gentera SAB and Hoteles City
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By analyzing existing cross correlation between Gentera SAB de and Hoteles City Express, you can compare the effects of market volatilities on Gentera SAB and Hoteles City 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 Hoteles City. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gentera SAB and Hoteles City.
Diversification Opportunities for Gentera SAB and Hoteles City
0.4 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Gentera and Hoteles is 0.4. Overlapping area represents the amount of risk that can be diversified away by holding Gentera SAB de and Hoteles City Express in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hoteles City Express 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 Hoteles City. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hoteles City Express has no effect on the direction of Gentera SAB i.e., Gentera SAB and Hoteles City go up and down completely randomly.
Pair Corralation between Gentera SAB and Hoteles City
Assuming the 90 days trading horizon Gentera SAB de is expected to generate 0.99 times more return on investment than Hoteles City. However, Gentera SAB de is 1.01 times less risky than Hoteles City. It trades about 0.06 of its potential returns per unit of risk. Hoteles City Express is currently generating about -0.02 per unit of risk. If you would invest 1,909 in Gentera SAB de on September 2, 2024 and sell it today you would earn a total of 672.00 from holding Gentera SAB de or generate 35.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gentera SAB de vs. Hoteles City Express
Performance |
| Timeline |
| Gentera SAB de |
| Hoteles City Express |
Gentera SAB and Hoteles City Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gentera SAB and Hoteles City
The main advantage of trading using opposite Gentera SAB and Hoteles City positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gentera SAB position performs unexpectedly, Hoteles City 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 Hoteles City will offset losses from the drop in Hoteles City'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 |
| Hoteles City vs. CEMEX SAB de | Hoteles City vs. Grupo Financiero Banorte | Hoteles City vs. Grupo Bimbo SAB | Hoteles City vs. Fomento Econmico Mexicano |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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