Correlation Between Hoteles City and FIBRA Storage
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By analyzing existing cross correlation between Hoteles City Express and FIBRA Storage, you can compare the effects of market volatilities on Hoteles City 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 Hoteles City with a short position of FIBRA Storage. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hoteles City and FIBRA Storage.
Diversification Opportunities for Hoteles City and FIBRA Storage
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Hoteles and FIBRA is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding Hoteles City Express and FIBRA Storage in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FIBRA Storage and Hoteles City 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 Hoteles City Express 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 Hoteles City i.e., Hoteles City and FIBRA Storage go up and down completely randomly.
Pair Corralation between Hoteles City and FIBRA Storage
Assuming the 90 days trading horizon Hoteles City Express is expected to under-perform the FIBRA Storage. In addition to that, Hoteles City is 1.93 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 0.03 per unit of volatility. If you would invest 1,748 in FIBRA Storage on November 5, 2024 and sell it today you would earn a total of 122.00 from holding FIBRA Storage or generate 6.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hoteles City Express vs. FIBRA Storage
Performance |
| Timeline |
| Hoteles City Express |
| FIBRA Storage |
Hoteles City and FIBRA Storage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hoteles City and FIBRA Storage
The main advantage of trading using opposite Hoteles City and FIBRA Storage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hoteles City 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.| Hoteles City vs. Controladora Vuela Compaa | Hoteles City vs. Alsea SAB de | Hoteles City vs. Nemak S A | Hoteles City vs. Grupo Comercial Chedraui |
| 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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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