Correlation Between GMxico Transportes and Banco Actinver
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By analyzing existing cross correlation between GMxico Transportes SAB and Banco Actinver SA, you can compare the effects of market volatilities on GMxico Transportes and Banco Actinver 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 GMxico Transportes with a short position of Banco Actinver. Check out your portfolio center. Please also check ongoing floating volatility patterns of GMxico Transportes and Banco Actinver.
Diversification Opportunities for GMxico Transportes and Banco Actinver
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between GMxico and Banco is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding GMxico Transportes SAB and Banco Actinver SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Banco Actinver SA and GMxico Transportes 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 GMxico Transportes SAB are associated (or correlated) with Banco Actinver. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Banco Actinver SA has no effect on the direction of GMxico Transportes i.e., GMxico Transportes and Banco Actinver go up and down completely randomly.
Pair Corralation between GMxico Transportes and Banco Actinver
Assuming the 90 days trading horizon GMxico Transportes SAB is expected to generate 0.98 times more return on investment than Banco Actinver. However, GMxico Transportes SAB is 1.02 times less risky than Banco Actinver. It trades about -0.03 of its potential returns per unit of risk. Banco Actinver SA is currently generating about -0.13 per unit of risk. If you would invest 3,274 in GMxico Transportes SAB on September 2, 2024 and sell it today you would lose (181.00) from holding GMxico Transportes SAB or give up 5.53% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
GMxico Transportes SAB vs. Banco Actinver SA
Performance |
| Timeline |
| GMxico Transportes SAB |
| Banco Actinver SA |
GMxico Transportes and Banco Actinver Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GMxico Transportes and Banco Actinver
The main advantage of trading using opposite GMxico Transportes and Banco Actinver positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GMxico Transportes position performs unexpectedly, Banco Actinver 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 Banco Actinver will offset losses from the drop in Banco Actinver's long position.| GMxico Transportes vs. Grupo Sports World | GMxico Transportes vs. Monster Beverage Corp | GMxico Transportes vs. Deutsche Bank Aktiengesellschaft | GMxico Transportes vs. United States Steel |
| Banco Actinver vs. DXC Technology | Banco Actinver vs. Grupo Sports World | Banco Actinver vs. GMxico Transportes SAB | Banco Actinver vs. McEwen Mining |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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