Correlation Between Grupo Famsa and Axtel SAB
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By analyzing existing cross correlation between Grupo Famsa SAB and Axtel SAB de, you can compare the effects of market volatilities on Grupo Famsa and Axtel SAB 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 Famsa with a short position of Axtel SAB. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo Famsa and Axtel SAB.
Diversification Opportunities for Grupo Famsa and Axtel SAB
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Grupo and Axtel is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Famsa SAB and Axtel SAB de in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Axtel SAB de and Grupo Famsa 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 Famsa SAB are associated (or correlated) with Axtel SAB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Axtel SAB de has no effect on the direction of Grupo Famsa i.e., Grupo Famsa and Axtel SAB go up and down completely randomly.
Pair Corralation between Grupo Famsa and Axtel SAB
If you would invest 70.00 in Axtel SAB de on September 4, 2024 and sell it today you would earn a total of 45.00 from holding Axtel SAB de or generate 64.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Grupo Famsa SAB vs. Axtel SAB de
Performance |
| Timeline |
| Grupo Famsa SAB |
| Axtel SAB de |
Grupo Famsa and Axtel SAB Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grupo Famsa and Axtel SAB
The main advantage of trading using opposite Grupo Famsa and Axtel SAB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo Famsa position performs unexpectedly, Axtel SAB 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 Axtel SAB will offset losses from the drop in Axtel SAB's long position.| Grupo Famsa vs. Lloyds Banking Group | Grupo Famsa vs. Grupo Sports World | Grupo Famsa vs. Costco Wholesale | Grupo Famsa vs. First Majestic Silver |
| Axtel SAB vs. Alfa SAB de | Axtel SAB vs. Consorcio ARA S | Axtel SAB vs. Grupo Famsa SAB | Axtel SAB vs. Grupo Televisa SAB |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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