Correlation Between JS ATIVOS and BTG Pactual
Can any of the company-specific risk be diversified away by investing in both JS ATIVOS and BTG Pactual 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 JS ATIVOS and BTG Pactual into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JS ATIVOS FINANCEIROS and BTG Pactual Logstica, you can compare the effects of market volatilities on JS ATIVOS and BTG Pactual 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 JS ATIVOS with a short position of BTG Pactual. Check out your portfolio center. Please also check ongoing floating volatility patterns of JS ATIVOS and BTG Pactual.
Diversification Opportunities for JS ATIVOS and BTG Pactual
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between JSAF11 and BTG is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding JS ATIVOS FINANCEIROS and BTG Pactual Logstica in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BTG Pactual Logstica and JS ATIVOS 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 JS ATIVOS FINANCEIROS are associated (or correlated) with BTG Pactual. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BTG Pactual Logstica has no effect on the direction of JS ATIVOS i.e., JS ATIVOS and BTG Pactual go up and down completely randomly.
Pair Corralation between JS ATIVOS and BTG Pactual
Assuming the 90 days trading horizon JS ATIVOS FINANCEIROS is expected to generate 1.73 times more return on investment than BTG Pactual. However, JS ATIVOS is 1.73 times more volatile than BTG Pactual Logstica. It trades about 0.02 of its potential returns per unit of risk. BTG Pactual Logstica is currently generating about 0.0 per unit of risk. If you would invest 6,805 in JS ATIVOS FINANCEIROS on September 16, 2024 and sell it today you would earn a total of 395.00 from holding JS ATIVOS FINANCEIROS or generate 5.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 99.2% |
| Values | Daily Returns |
JS ATIVOS FINANCEIROS vs. BTG Pactual Logstica
Performance |
| Timeline |
| JS ATIVOS FINANCEIROS |
| BTG Pactual Logstica |
JS ATIVOS and BTG Pactual Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JS ATIVOS and BTG Pactual
The main advantage of trading using opposite JS ATIVOS and BTG Pactual positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JS ATIVOS position performs unexpectedly, BTG Pactual 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 BTG Pactual will offset losses from the drop in BTG Pactual's long position.| JS ATIVOS vs. BTG Pactual Logstica | JS ATIVOS vs. Plano Plano Desenvolvimento | JS ATIVOS vs. Companhia Habitasul de | JS ATIVOS vs. FDO INV IMOB |
| BTG Pactual vs. Plano Plano Desenvolvimento | BTG Pactual vs. Cable One | BTG Pactual vs. ATMA Participaes SA | BTG Pactual vs. British American Tobacco |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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