Correlation Between Grupo Profuturo and Genworth Financial
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By analyzing existing cross correlation between Grupo Profuturo SAB and Genworth Financial, you can compare the effects of market volatilities on Grupo Profuturo and Genworth Financial 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 Profuturo with a short position of Genworth Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo Profuturo and Genworth Financial.
Diversification Opportunities for Grupo Profuturo and Genworth Financial
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Grupo and Genworth is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Profuturo SAB and Genworth Financial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Genworth Financial and Grupo Profuturo 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 Profuturo SAB are associated (or correlated) with Genworth Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Genworth Financial has no effect on the direction of Grupo Profuturo i.e., Grupo Profuturo and Genworth Financial go up and down completely randomly.
Pair Corralation between Grupo Profuturo and Genworth Financial
If you would invest 9,500 in Grupo Profuturo SAB on September 23, 2024 and sell it today you would earn a total of 500.00 from holding Grupo Profuturo SAB or generate 5.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Grupo Profuturo SAB vs. Genworth Financial
Performance |
| Timeline |
| Grupo Profuturo SAB |
| Genworth Financial |
Grupo Profuturo and Genworth Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grupo Profuturo and Genworth Financial
The main advantage of trading using opposite Grupo Profuturo and Genworth Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo Profuturo position performs unexpectedly, Genworth Financial 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 Genworth Financial will offset losses from the drop in Genworth Financial's long position.| Grupo Profuturo vs. Samsung Electronics Co | Grupo Profuturo vs. Taiwan Semiconductor Manufacturing | Grupo Profuturo vs. JPMorgan Chase Co | Grupo Profuturo vs. Bank of America |
| Genworth Financial vs. Grupo Nacional Provincial | Genworth Financial vs. Pea Verde SAB | Genworth Financial vs. Grupo Profuturo SAB | Genworth Financial vs. Berkshire Hathaway |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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