Correlation Between Grupo Hotelero and FIBRA Storage
Specify exactly 2 symbols:
By analyzing existing cross correlation between Grupo Hotelero Santa and FIBRA Storage, you can compare the effects of market volatilities on Grupo Hotelero 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 Grupo Hotelero with a short position of FIBRA Storage. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo Hotelero and FIBRA Storage.
Diversification Opportunities for Grupo Hotelero and FIBRA Storage
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Grupo and FIBRA is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Hotelero Santa and FIBRA Storage in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FIBRA Storage and Grupo Hotelero 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 Hotelero Santa 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 Grupo Hotelero i.e., Grupo Hotelero and FIBRA Storage go up and down completely randomly.
Pair Corralation between Grupo Hotelero and FIBRA Storage
Assuming the 90 days trading horizon Grupo Hotelero is expected to generate 1.49 times less return on investment than FIBRA Storage. In addition to that, Grupo Hotelero is 1.15 times more volatile than FIBRA Storage. It trades about 0.07 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 Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Grupo Hotelero Santa vs. FIBRA Storage
Performance |
| Timeline |
| Grupo Hotelero Santa |
| FIBRA Storage |
Grupo Hotelero and FIBRA Storage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grupo Hotelero and FIBRA Storage
The main advantage of trading using opposite Grupo Hotelero and FIBRA Storage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo Hotelero 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.| Grupo Hotelero vs. McEwen Mining | Grupo Hotelero vs. Grupo Carso SAB | Grupo Hotelero vs. Grupo Sports World | Grupo Hotelero vs. Cognizant Technology Solutions |
| FIBRA Storage vs. Martin Marietta Materials | FIBRA Storage vs. DXC Technology | FIBRA Storage vs. Southwest Airlines | FIBRA Storage vs. Capital One Financial |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
Other Complementary Tools
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Global Correlations Find global opportunities by holding instruments from different markets |