Correlation Between Ingevec and Banco De
Specify exactly 2 symbols:
By analyzing existing cross correlation between Ingevec and Banco de Credito, you can compare the effects of market volatilities on Ingevec and Banco De 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 Ingevec with a short position of Banco De. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ingevec and Banco De.
Diversification Opportunities for Ingevec and Banco De
Very good diversification
The 3 months correlation between Ingevec and Banco is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding Ingevec and Banco de Credito in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Banco de Credito and Ingevec 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 Ingevec are associated (or correlated) with Banco De. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Banco de Credito has no effect on the direction of Ingevec i.e., Ingevec and Banco De go up and down completely randomly.
Pair Corralation between Ingevec and Banco De
Assuming the 90 days trading horizon Ingevec is expected to generate 0.56 times more return on investment than Banco De. However, Ingevec is 1.78 times less risky than Banco De. It trades about -0.11 of its potential returns per unit of risk. Banco de Credito is currently generating about -0.09 per unit of risk. If you would invest 5,742 in Ingevec on October 9, 2024 and sell it today you would lose (42.00) from holding Ingevec or give up 0.73% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 72.22% |
| Values | Daily Returns |
Ingevec vs. Banco de Credito
Performance |
| Timeline |
| Ingevec |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Good
| Banco de Credito |
Ingevec and Banco De Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ingevec and Banco De
The main advantage of trading using opposite Ingevec and Banco De positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ingevec position performs unexpectedly, Banco De 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 Banco De will offset losses from the drop in Banco De's long position.| Ingevec vs. Aguas Andinas SA | Ingevec vs. Parq Arauco | Ingevec vs. Enel Generacin Chile | Ingevec vs. Sociedad Matriz SAAM |
| Banco De vs. Banco Santander Chile | Banco De vs. Banco de Chile | Banco De vs. Falabella | Banco De vs. Empresas Copec SA |
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 Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
Other Complementary Tools
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance |