Correlation Between Mapfre and BK Variable
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By analyzing existing cross correlation between Mapfre and BK Variable Internacional, you can compare the effects of market volatilities on Mapfre and BK Variable 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 Mapfre with a short position of BK Variable. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mapfre and BK Variable.
Diversification Opportunities for Mapfre and BK Variable
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Mapfre and 0P0000120T is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding Mapfre and BK Variable Internacional in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BK Variable Internacional and Mapfre 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 Mapfre are associated (or correlated) with BK Variable. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BK Variable Internacional has no effect on the direction of Mapfre i.e., Mapfre and BK Variable go up and down completely randomly.
Pair Corralation between Mapfre and BK Variable
Assuming the 90 days trading horizon Mapfre is expected to generate 1.66 times more return on investment than BK Variable. However, Mapfre is 1.66 times more volatile than BK Variable Internacional. It trades about 0.08 of its potential returns per unit of risk. BK Variable Internacional is currently generating about 0.09 per unit of risk. If you would invest 164.00 in Mapfre on September 3, 2024 and sell it today you would earn a total of 82.00 from holding Mapfre or generate 50.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 97.93% |
| Values | Daily Returns |
Mapfre vs. BK Variable Internacional
Performance |
| Timeline |
| Mapfre |
| BK Variable Internacional |
Mapfre and BK Variable Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mapfre and BK Variable
The main advantage of trading using opposite Mapfre and BK Variable positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mapfre position performs unexpectedly, BK Variable 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 BK Variable will offset losses from the drop in BK Variable's long position.| Mapfre vs. Caixabank SA | Mapfre vs. Atresmedia Corporacin de | Mapfre vs. Borges Agricultural Industrial | Mapfre vs. Bankinter |
| BK Variable vs. Metrovacesa SA | BK Variable vs. Endurance Motive SA | BK Variable vs. Elecnor SA | BK Variable vs. Mapfre |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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