Correlation Between Las Condes and Ingevec
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By analyzing existing cross correlation between Las Condes and Ingevec, you can compare the effects of market volatilities on Las Condes and Ingevec 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 Las Condes with a short position of Ingevec. Check out your portfolio center. Please also check ongoing floating volatility patterns of Las Condes and Ingevec.
Diversification Opportunities for Las Condes and Ingevec
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Las and Ingevec is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Las Condes and Ingevec in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ingevec and Las Condes 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 Las Condes are associated (or correlated) with Ingevec. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ingevec has no effect on the direction of Las Condes i.e., Las Condes and Ingevec go up and down completely randomly.
Pair Corralation between Las Condes and Ingevec
If you would invest 1,188,600 in Las Condes on October 8, 2024 and sell it today you would earn a total of 62,700 from holding Las Condes or generate 5.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.56% |
| Values | Daily Returns |
Las Condes vs. Ingevec
Performance |
| Timeline |
| Las Condes |
| Ingevec |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Las Condes and Ingevec Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Las Condes and Ingevec
The main advantage of trading using opposite Las Condes and Ingevec positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Las Condes position performs unexpectedly, Ingevec 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 Ingevec will offset losses from the drop in Ingevec's long position.| Las Condes vs. Aguas Andinas SA | Las Condes vs. Parq Arauco | Las Condes vs. Enel Generacin Chile | Las Condes vs. Sociedad Matriz SAAM |
| Ingevec vs. Aguas Andinas SA | Ingevec vs. Parq Arauco | Ingevec vs. Enel Generacin Chile | Ingevec vs. Sociedad Matriz SAAM |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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