Correlation Between Grupo Industrial and Procorp SAB
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By analyzing existing cross correlation between Grupo Industrial Saltillo and Procorp SAB de, you can compare the effects of market volatilities on Grupo Industrial and Procorp 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 Industrial with a short position of Procorp SAB. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo Industrial and Procorp SAB.
Diversification Opportunities for Grupo Industrial and Procorp SAB
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Grupo and Procorp is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Industrial Saltillo and Procorp SAB de in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Procorp SAB de and Grupo Industrial 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 Industrial Saltillo are associated (or correlated) with Procorp SAB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Procorp SAB de has no effect on the direction of Grupo Industrial i.e., Grupo Industrial and Procorp SAB go up and down completely randomly.
Pair Corralation between Grupo Industrial and Procorp SAB
Assuming the 90 days trading horizon Grupo Industrial Saltillo is expected to under-perform the Procorp SAB. In addition to that, Grupo Industrial is 2.98 times more volatile than Procorp SAB de. It trades about -0.01 of its total potential returns per unit of risk. Procorp SAB de is currently generating about 0.0 per unit of volatility. If you would invest 555.00 in Procorp SAB de on October 9, 2024 and sell it today you would lose (55.00) from holding Procorp SAB de or give up 9.91% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 88.84% |
| Values | Daily Returns |
Grupo Industrial Saltillo vs. Procorp SAB de
Performance |
| Timeline |
| Grupo Industrial Saltillo |
| Procorp SAB de |
Grupo Industrial and Procorp SAB Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grupo Industrial and Procorp SAB
The main advantage of trading using opposite Grupo Industrial and Procorp SAB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo Industrial position performs unexpectedly, Procorp 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 Procorp SAB will offset losses from the drop in Procorp SAB's long position.| Grupo Industrial vs. Grupo Aeroportuario del | Grupo Industrial vs. Grupo Aeroportuario del | Grupo Industrial vs. Gruma SAB de | Grupo Industrial vs. Grupo Financiero Banorte |
| Procorp SAB vs. Grupo Hotelero Santa | Procorp SAB vs. First Majestic Silver | Procorp SAB vs. CVS Health | Procorp SAB vs. Hoteles City Express |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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