Correlation Between Grupo Famsa and Companhia Brasileira
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By analyzing existing cross correlation between Grupo Famsa SAB and Companhia Brasileira de, you can compare the effects of market volatilities on Grupo Famsa and Companhia Brasileira 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 Companhia Brasileira. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo Famsa and Companhia Brasileira.
Diversification Opportunities for Grupo Famsa and Companhia Brasileira
-1.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Grupo and Companhia is -1.0. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Famsa SAB and Companhia Brasileira de in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Companhia Brasileira 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 Companhia Brasileira. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Companhia Brasileira has no effect on the direction of Grupo Famsa i.e., Grupo Famsa and Companhia Brasileira go up and down completely randomly.
Pair Corralation between Grupo Famsa and Companhia Brasileira
If you would invest 1,360 in Companhia Brasileira de on November 2, 2024 and sell it today you would earn a total of 0.00 from holding Companhia Brasileira de or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Grupo Famsa SAB vs. Companhia Brasileira de
Performance |
| Timeline |
| Grupo Famsa SAB |
| Companhia Brasileira |
Grupo Famsa and Companhia Brasileira Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grupo Famsa and Companhia Brasileira
The main advantage of trading using opposite Grupo Famsa and Companhia Brasileira positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo Famsa position performs unexpectedly, Companhia Brasileira 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 Companhia Brasileira will offset losses from the drop in Companhia Brasileira's long position.| Grupo Famsa vs. DXC Technology | Grupo Famsa vs. United States Steel | Grupo Famsa vs. Applied Materials | Grupo Famsa vs. First Majestic Silver |
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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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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