Correlation Between Mapfre and Cabk Destino
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By analyzing existing cross correlation between Mapfre and Cabk Destino 2030, you can compare the effects of market volatilities on Mapfre and Cabk Destino 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 Cabk Destino. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mapfre and Cabk Destino.
Diversification Opportunities for Mapfre and Cabk Destino
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Mapfre and Cabk is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding Mapfre and Cabk Destino 2030 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cabk Destino 2030 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 Cabk Destino. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cabk Destino 2030 has no effect on the direction of Mapfre i.e., Mapfre and Cabk Destino go up and down completely randomly.
Pair Corralation between Mapfre and Cabk Destino
Assuming the 90 days trading horizon Mapfre is expected to generate 2.83 times more return on investment than Cabk Destino. However, Mapfre is 2.83 times more volatile than Cabk Destino 2030. It trades about 0.09 of its potential returns per unit of risk. Cabk Destino 2030 is currently generating about 0.11 per unit of risk. If you would invest 171.00 in Mapfre on September 2, 2024 and sell it today you would earn a total of 75.00 from holding Mapfre or generate 43.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 88.16% |
| Values | Daily Returns |
Mapfre vs. Cabk Destino 2030
Performance |
| Timeline |
| Mapfre |
| Cabk Destino 2030 |
Mapfre and Cabk Destino Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mapfre and Cabk Destino
The main advantage of trading using opposite Mapfre and Cabk Destino positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mapfre position performs unexpectedly, Cabk Destino 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 Cabk Destino will offset losses from the drop in Cabk Destino's long position.| Mapfre vs. Bankinter | Mapfre vs. Cellnex Telecom SA | Mapfre vs. Azaria Rental SOCIMI | Mapfre vs. Ebro Foods |
| Cabk Destino vs. Cabk Tendencias Pp | Cabk Destino vs. BK Variable Internacional | Cabk Destino vs. Naranja Renta Fija | Cabk Destino vs. Indexa Ms Rentabilidad |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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