Correlation Between Mapfre and Myinvestor Indexado
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By analyzing existing cross correlation between Mapfre and Myinvestor Indexado Global, you can compare the effects of market volatilities on Mapfre and Myinvestor Indexado 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 Myinvestor Indexado. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mapfre and Myinvestor Indexado.
Diversification Opportunities for Mapfre and Myinvestor Indexado
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Mapfre and Myinvestor is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding Mapfre and Myinvestor Indexado Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Myinvestor Indexado 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 Myinvestor Indexado. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Myinvestor Indexado has no effect on the direction of Mapfre i.e., Mapfre and Myinvestor Indexado go up and down completely randomly.
Pair Corralation between Mapfre and Myinvestor Indexado
Assuming the 90 days trading horizon Mapfre is expected to under-perform the Myinvestor Indexado. In addition to that, Mapfre is 1.14 times more volatile than Myinvestor Indexado Global. It trades about -0.21 of its total potential returns per unit of risk. Myinvestor Indexado Global is currently generating about 0.36 per unit of volatility. If you would invest 1,520 in Myinvestor Indexado Global on September 2, 2024 and sell it today you would earn a total of 87.00 from holding Myinvestor Indexado Global or generate 5.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 86.36% |
| Values | Daily Returns |
Mapfre vs. Myinvestor Indexado Global
Performance |
| Timeline |
| Mapfre |
| Myinvestor Indexado |
Mapfre and Myinvestor Indexado Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mapfre and Myinvestor Indexado
The main advantage of trading using opposite Mapfre and Myinvestor Indexado positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mapfre position performs unexpectedly, Myinvestor Indexado 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 Myinvestor Indexado will offset losses from the drop in Myinvestor Indexado's long position.| Mapfre vs. Bankinter | Mapfre vs. Cellnex Telecom SA | Mapfre vs. Azaria Rental SOCIMI | Mapfre vs. Ebro Foods |
| Myinvestor Indexado vs. Metrovacesa SA | Myinvestor Indexado vs. Elecnor SA | Myinvestor Indexado vs. Mapfre | Myinvestor Indexado vs. Amper SA |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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