Correlation Between Grupo KUO and FIBRA Storage
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By analyzing existing cross correlation between Grupo KUO SAB and FIBRA Storage, you can compare the effects of market volatilities on Grupo KUO 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 KUO with a short position of FIBRA Storage. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo KUO and FIBRA Storage.
Diversification Opportunities for Grupo KUO and FIBRA Storage
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Grupo and FIBRA is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Grupo KUO SAB and FIBRA Storage in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FIBRA Storage and Grupo KUO 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 KUO SAB 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 KUO i.e., Grupo KUO and FIBRA Storage go up and down completely randomly.
Pair Corralation between Grupo KUO and FIBRA Storage
Assuming the 90 days trading horizon Grupo KUO is expected to generate 3.35 times less return on investment than FIBRA Storage. In addition to that, Grupo KUO is 1.56 times more volatile than FIBRA Storage. It trades about 0.0 of its total potential returns per unit of risk. FIBRA Storage is currently generating about 0.02 per unit of volatility. If you would invest 1,660 in FIBRA Storage on September 13, 2024 and sell it today you would earn a total of 130.00 from holding FIBRA Storage or generate 7.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Grupo KUO SAB vs. FIBRA Storage
Performance |
| Timeline |
| Grupo KUO SAB |
| FIBRA Storage |
Grupo KUO and FIBRA Storage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grupo KUO and FIBRA Storage
The main advantage of trading using opposite Grupo KUO and FIBRA Storage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo KUO 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 KUO vs. McEwen Mining | Grupo KUO vs. Capital One Financial | Grupo KUO vs. Taiwan Semiconductor Manufacturing | Grupo KUO vs. Cognizant Technology Solutions |
| 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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