Correlation Between GMxico Transportes and FIBRA Storage
Specify exactly 2 symbols:
By analyzing existing cross correlation between GMxico Transportes SAB and FIBRA Storage, you can compare the effects of market volatilities on GMxico Transportes and FIBRA Storage 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 FIBRA Storage. Check out your portfolio center. Please also check ongoing floating volatility patterns of GMxico Transportes and FIBRA Storage.
Diversification Opportunities for GMxico Transportes and FIBRA Storage
-0.79 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between GMxico and FIBRA is -0.79. Overlapping area represents the amount of risk that can be diversified away by holding GMxico Transportes SAB and FIBRA Storage in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FIBRA Storage 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 FIBRA Storage. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FIBRA Storage has no effect on the direction of GMxico Transportes i.e., GMxico Transportes and FIBRA Storage go up and down completely randomly.
Pair Corralation between GMxico Transportes and FIBRA Storage
Assuming the 90 days trading horizon GMxico Transportes is expected to generate 4.25 times less return on investment than FIBRA Storage. In addition to that, GMxico Transportes is 2.35 times more volatile than FIBRA Storage. It trades about 0.01 of its total potential returns per unit of risk. FIBRA Storage is currently generating about 0.12 per unit of volatility. If you would invest 1,715 in FIBRA Storage on August 27, 2024 and sell it today you would earn a total of 34.00 from holding FIBRA Storage or generate 1.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
GMxico Transportes SAB vs. FIBRA Storage
Performance |
| Timeline |
| GMxico Transportes SAB |
| FIBRA Storage |
GMxico Transportes and FIBRA Storage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GMxico Transportes and FIBRA Storage
The main advantage of trading using opposite GMxico Transportes and FIBRA Storage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GMxico Transportes position performs unexpectedly, FIBRA Storage 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 FIBRA Storage will offset losses from the drop in FIBRA Storage's long position.| GMxico Transportes vs. Glencore plc | GMxico Transportes vs. iShares Trust | GMxico Transportes vs. US Bancorp | GMxico Transportes vs. American Express |
| FIBRA Storage vs. Apple Inc | FIBRA Storage vs. Microsoft | FIBRA Storage vs. Alphabet Inc Class A | FIBRA Storage vs. Alphabet Inc |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
Other Complementary Tools
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories |