Correlation Between SP Merval and Grimoldi
Can any of the company-specific risk be diversified away by investing in both SP Merval and Grimoldi at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining SP Merval and Grimoldi into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SP Merval and Grimoldi SA, you can compare the effects of market volatilities on SP Merval and Grimoldi 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 SP Merval with a short position of Grimoldi. Check out your portfolio center. Please also check ongoing floating volatility patterns of SP Merval and Grimoldi.
Diversification Opportunities for SP Merval and Grimoldi
Pay attention - limited upside
The 3 months correlation between MERV and Grimoldi is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SP Merval and Grimoldi SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grimoldi SA and SP Merval 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 SP Merval are associated (or correlated) with Grimoldi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grimoldi SA has no effect on the direction of SP Merval i.e., SP Merval and Grimoldi go up and down completely randomly.
Pair Corralation between SP Merval and Grimoldi
If you would invest 115,500 in Grimoldi SA on September 19, 2024 and sell it today you would earn a total of 19,500 from holding Grimoldi SA or generate 16.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SP Merval vs. Grimoldi SA
Performance |
| Timeline |
SP Merval and Grimoldi Volatility Contrast
Predicted Return Density |
| Returns |
SP Merval
Pair trading matchups for SP Merval
Grimoldi SA
Pair trading matchups for Grimoldi
Pair Trading with SP Merval and Grimoldi
The main advantage of trading using opposite SP Merval and Grimoldi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SP Merval position performs unexpectedly, Grimoldi 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 Grimoldi will offset losses from the drop in Grimoldi's long position.| SP Merval vs. Compania de Transporte | SP Merval vs. Agrometal SAI | SP Merval vs. Telecom Argentina | SP Merval vs. Transportadora de Gas |
| Grimoldi vs. Agrometal SAI | Grimoldi vs. Harmony Gold Mining | Grimoldi vs. Telecom Argentina | Grimoldi vs. Compania de Transporte |
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.
Other Complementary Tools
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges |