Correlation Between Grupo Financiero and Martin Marietta
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By analyzing existing cross correlation between Grupo Financiero Banorte and Martin Marietta Materials, you can compare the effects of market volatilities on Grupo Financiero and Martin Marietta 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 Financiero with a short position of Martin Marietta. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo Financiero and Martin Marietta.
Diversification Opportunities for Grupo Financiero and Martin Marietta
-0.17 | Correlation Coefficient |
Good diversification
The 3 months correlation between Grupo and Martin is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Financiero Banorte and Martin Marietta Materials in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Martin Marietta Materials and Grupo Financiero 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 Financiero Banorte are associated (or correlated) with Martin Marietta. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Martin Marietta Materials has no effect on the direction of Grupo Financiero i.e., Grupo Financiero and Martin Marietta go up and down completely randomly.
Pair Corralation between Grupo Financiero and Martin Marietta
Assuming the 90 days trading horizon Grupo Financiero Banorte is expected to under-perform the Martin Marietta. But the stock apears to be less risky and, when comparing its historical volatility, Grupo Financiero Banorte is 1.11 times less risky than Martin Marietta. The stock trades about -0.05 of its potential returns per unit of risk. The Martin Marietta Materials is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest 1,034,960 in Martin Marietta Materials on September 13, 2024 and sell it today you would earn a total of 144,874 from holding Martin Marietta Materials or generate 14.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Grupo Financiero Banorte vs. Martin Marietta Materials
Performance |
| Timeline |
| Grupo Financiero Banorte |
| Martin Marietta Materials |
Grupo Financiero and Martin Marietta Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grupo Financiero and Martin Marietta
The main advantage of trading using opposite Grupo Financiero and Martin Marietta positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo Financiero position performs unexpectedly, Martin Marietta 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 Martin Marietta will offset losses from the drop in Martin Marietta's long position.| Grupo Financiero vs. Martin Marietta Materials | Grupo Financiero vs. Verizon Communications | Grupo Financiero vs. GMxico Transportes SAB | Grupo Financiero vs. Micron Technology |
| Martin Marietta vs. Grupo Mxico SAB | Martin Marietta vs. Alfa SAB de | Martin Marietta vs. Grupo Financiero Banorte | Martin Marietta 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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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