Correlation Between La Comer and Dow Jones
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By analyzing existing cross correlation between La Comer SAB and Dow Jones Industrial, you can compare the effects of market volatilities on La Comer and Dow Jones 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 La Comer with a short position of Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of La Comer and Dow Jones.
Diversification Opportunities for La Comer and Dow Jones
Pay attention - limited upside
The 3 months correlation between LACOMERUBC and Dow is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding La Comer SAB and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial and La Comer 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 La Comer SAB are associated (or correlated) with Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of La Comer i.e., La Comer and Dow Jones go up and down completely randomly.
Pair Corralation between La Comer and Dow Jones
Assuming the 90 days trading horizon La Comer SAB is expected to under-perform the Dow Jones. In addition to that, La Comer is 2.82 times more volatile than Dow Jones Industrial. It trades about 0.0 of its total potential returns per unit of risk. Dow Jones Industrial is currently generating about 0.12 per unit of volatility. If you would invest 3,515,104 in Dow Jones Industrial on September 14, 2024 and sell it today you would earn a total of 876,308 from holding Dow Jones Industrial or generate 24.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.63% |
| Values | Daily Returns |
La Comer SAB vs. Dow Jones Industrial
Performance |
| Timeline |
La Comer and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
La Comer SAB
Pair trading matchups for La Comer
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with La Comer and Dow Jones
The main advantage of trading using opposite La Comer and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if La Comer position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| La Comer vs. Grupo Comercial Chedraui | La Comer vs. Gentera SAB de | La Comer vs. El Puerto de | La Comer vs. Organizacin Soriana S |
| Dow Jones vs. Hurco Companies | Dow Jones vs. Tyson Foods | Dow Jones vs. MYR Group | Dow Jones vs. Cannae Holdings |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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