Correlation Between GMéxico Transportes and SANLTD
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By analyzing existing cross correlation between GMxico Transportes SAB and SANLTD 28 08 MAR 27, you can compare the effects of market volatilities on GMéxico Transportes and SANLTD 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 GMéxico Transportes with a short position of SANLTD. Check out your portfolio center. Please also check ongoing floating volatility patterns of GMéxico Transportes and SANLTD.
Diversification Opportunities for GMéxico Transportes and SANLTD
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between GMéxico and SANLTD is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding GMxico Transportes SAB and SANLTD 28 08 MAR 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SANLTD 28 08 and GMéxico 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 SANLTD. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SANLTD 28 08 has no effect on the direction of GMéxico Transportes i.e., GMéxico Transportes and SANLTD go up and down completely randomly.
Pair Corralation between GMéxico Transportes and SANLTD
Assuming the 90 days horizon GMxico Transportes SAB is expected to under-perform the SANLTD. In addition to that, GMéxico Transportes is 1.4 times more volatile than SANLTD 28 08 MAR 27. It trades about -0.19 of its total potential returns per unit of risk. SANLTD 28 08 MAR 27 is currently generating about -0.15 per unit of volatility. If you would invest 9,250 in SANLTD 28 08 MAR 27 on August 25, 2024 and sell it today you would lose (726.00) from holding SANLTD 28 08 MAR 27 or give up 7.85% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 62.5% |
| Values | Daily Returns |
GMxico Transportes SAB vs. SANLTD 28 08 MAR 27
Performance |
| Timeline |
| GMxico Transportes SAB |
| SANLTD 28 08 |
GMéxico Transportes and SANLTD Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GMéxico Transportes and SANLTD
The main advantage of trading using opposite GMéxico Transportes and SANLTD positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GMéxico Transportes position performs unexpectedly, SANLTD 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 SANLTD will offset losses from the drop in SANLTD's long position.| GMéxico Transportes vs. West Japan Railway | GMéxico Transportes vs. Central Japan Railway | GMéxico Transportes vs. LB Foster | GMéxico Transportes vs. Norfolk Southern |
| SANLTD vs. Black Hills | SANLTD vs. Sun Life Financial | SANLTD vs. SEI Investments | SANLTD vs. Where Food Comes |
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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