Correlation Between El Puerto and La Comer
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By analyzing existing cross correlation between El Puerto de and La Comer SAB, you can compare the effects of market volatilities on El Puerto and La Comer 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 El Puerto with a short position of La Comer. Check out your portfolio center. Please also check ongoing floating volatility patterns of El Puerto and La Comer.
Diversification Opportunities for El Puerto and La Comer
Very poor diversification
The 3 months correlation between LIVEPOLC-1 and LACOMERUBC is 0.84. Overlapping area represents the amount of risk that can be diversified away by holding El Puerto de and La Comer SAB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on La Comer SAB and El Puerto 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 El Puerto de are associated (or correlated) with La Comer. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of La Comer SAB has no effect on the direction of El Puerto i.e., El Puerto and La Comer go up and down completely randomly.
Pair Corralation between El Puerto and La Comer
Assuming the 90 days trading horizon El Puerto de is expected to under-perform the La Comer. But the stock apears to be less risky and, when comparing its historical volatility, El Puerto de is 1.26 times less risky than La Comer. The stock trades about 0.0 of its potential returns per unit of risk. The La Comer SAB is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 3,770 in La Comer SAB on September 14, 2024 and sell it today you would lose (358.00) from holding La Comer SAB or give up 9.5% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
El Puerto de vs. La Comer SAB
Performance |
| Timeline |
| El Puerto de |
| La Comer SAB |
El Puerto and La Comer Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with El Puerto and La Comer
The main advantage of trading using opposite El Puerto and La Comer positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if El Puerto position performs unexpectedly, La Comer 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 La Comer will offset losses from the drop in La Comer's long position.| El Puerto vs. Delta Air Lines | El Puerto vs. GMxico Transportes SAB | El Puerto vs. Hoteles City Express | El Puerto vs. Micron Technology |
| La Comer vs. Grupo Comercial Chedraui | La Comer vs. Gentera SAB de | La Comer vs. El Puerto de | La Comer vs. Organizacin Soriana S |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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