Correlation Between Martin Marietta and Banco Actinver
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By analyzing existing cross correlation between Martin Marietta Materials and Banco Actinver SA, you can compare the effects of market volatilities on Martin Marietta and Banco Actinver 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 Martin Marietta with a short position of Banco Actinver. Check out your portfolio center. Please also check ongoing floating volatility patterns of Martin Marietta and Banco Actinver.
Diversification Opportunities for Martin Marietta and Banco Actinver
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Martin and Banco is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Martin Marietta Materials and Banco Actinver SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Banco Actinver SA and Martin Marietta 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 Martin Marietta Materials are associated (or correlated) with Banco Actinver. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Banco Actinver SA has no effect on the direction of Martin Marietta i.e., Martin Marietta and Banco Actinver go up and down completely randomly.
Pair Corralation between Martin Marietta and Banco Actinver
Assuming the 90 days trading horizon Martin Marietta Materials is expected to generate 0.53 times more return on investment than Banco Actinver. However, Martin Marietta Materials is 1.9 times less risky than Banco Actinver. It trades about -0.03 of its potential returns per unit of risk. Banco Actinver SA is currently generating about -0.22 per unit of risk. If you would invest 1,114,857 in Martin Marietta Materials on October 20, 2024 and sell it today you would lose (17,308) from holding Martin Marietta Materials or give up 1.55% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Martin Marietta Materials vs. Banco Actinver SA
Performance |
| Timeline |
| Martin Marietta Materials |
| Banco Actinver SA |
Martin Marietta and Banco Actinver Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Martin Marietta and Banco Actinver
The main advantage of trading using opposite Martin Marietta and Banco Actinver positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Martin Marietta position performs unexpectedly, Banco Actinver 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 Banco Actinver will offset losses from the drop in Banco Actinver's long position.| Martin Marietta vs. Delta Air Lines | Martin Marietta vs. Capital One Financial | Martin Marietta vs. New Oriental Education | Martin Marietta vs. FibraHotel |
| Banco Actinver vs. Fibra UNO | Banco Actinver vs. Fibra Mty SAPI | Banco Actinver vs. FIBRA Prologis | Banco Actinver vs. Fibra Terrafina |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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