Correlation Between Masisa and AFP Capital
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By analyzing existing cross correlation between Masisa and AFP Capital SA, you can compare the effects of market volatilities on Masisa and AFP Capital 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 Masisa with a short position of AFP Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Masisa and AFP Capital.
Diversification Opportunities for Masisa and AFP Capital
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Masisa and AFP is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding Masisa and AFP Capital SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AFP Capital SA and Masisa 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 Masisa are associated (or correlated) with AFP Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AFP Capital SA has no effect on the direction of Masisa i.e., Masisa and AFP Capital go up and down completely randomly.
Pair Corralation between Masisa and AFP Capital
If you would invest 25,000 in AFP Capital SA on September 14, 2024 and sell it today you would earn a total of 0.00 from holding AFP Capital SA or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 9.09% |
| Values | Daily Returns |
Masisa vs. AFP Capital SA
Performance |
| Timeline |
| Masisa |
| AFP Capital SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Masisa and AFP Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Masisa and AFP Capital
The main advantage of trading using opposite Masisa and AFP Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Masisa position performs unexpectedly, AFP Capital 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 AFP Capital will offset losses from the drop in AFP Capital's long position.| Masisa vs. Embotelladora Andina SA | Masisa vs. Administradora Americana de | Masisa vs. Las Condes | Masisa vs. Salfacorp |
| AFP Capital vs. Banco de Credito | AFP Capital vs. Multiexport Foods SA | AFP Capital vs. LATAM Airlines Group |
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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