Correlation Between Intasa SA and Compania
Can any of the company-specific risk be diversified away by investing in both Intasa SA and Compania at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Intasa SA and Compania into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Intasa SA and Compania De Inversiones, you can compare the effects of market volatilities on Intasa SA and Compania 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 Intasa SA with a short position of Compania. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intasa SA and Compania.
Diversification Opportunities for Intasa SA and Compania
Pay attention - limited upside
The 3 months correlation between Intasa and Compania is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Intasa SA and Compania De Inversiones in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Compania De Inversiones and Intasa SA 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 Intasa SA are associated (or correlated) with Compania. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Compania De Inversiones has no effect on the direction of Intasa SA i.e., Intasa SA and Compania go up and down completely randomly.
Pair Corralation between Intasa SA and Compania
If you would invest (100.00) in Compania De Inversiones on September 20, 2024 and sell it today you would earn a total of 100.00 from holding Compania De Inversiones or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Intasa SA vs. Compania De Inversiones
Performance |
| Timeline |
| Intasa SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Compania De Inversiones |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Intasa SA and Compania Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intasa SA and Compania
The main advantage of trading using opposite Intasa SA and Compania positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intasa SA position performs unexpectedly, Compania 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 Compania will offset losses from the drop in Compania's long position.| Intasa SA vs. Aguas Andinas SA | Intasa SA vs. Parq Arauco | Intasa SA vs. Enel Generacin Chile | Intasa SA vs. Sociedad Matriz SAAM |
| Compania vs. Compania Cervecerias Unidas | Compania vs. Compania General de | Compania vs. Aguas Andinas SA | Compania vs. Parq Arauco |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
Other Complementary Tools
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |