Correlation Between Martin Marietta and FIBRA Storage
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By analyzing existing cross correlation between Martin Marietta Materials and FIBRA Storage, you can compare the effects of market volatilities on Martin Marietta and FIBRA Storage 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 FIBRA Storage. Check out your portfolio center. Please also check ongoing floating volatility patterns of Martin Marietta and FIBRA Storage.
Diversification Opportunities for Martin Marietta and FIBRA Storage
-0.74 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Martin and FIBRA is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Martin Marietta Materials and FIBRA Storage in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FIBRA Storage 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 FIBRA Storage. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FIBRA Storage has no effect on the direction of Martin Marietta i.e., Martin Marietta and FIBRA Storage go up and down completely randomly.
Pair Corralation between Martin Marietta and FIBRA Storage
Assuming the 90 days trading horizon Martin Marietta Materials is expected to generate 1.51 times more return on investment than FIBRA Storage. However, Martin Marietta is 1.51 times more volatile than FIBRA Storage. It trades about 0.06 of its potential returns per unit of risk. FIBRA Storage is currently generating about 0.03 per unit of risk. If you would invest 881,130 in Martin Marietta Materials on November 5, 2024 and sell it today you would earn a total of 237,070 from holding Martin Marietta Materials or generate 26.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.6% |
| Values | Daily Returns |
Martin Marietta Materials vs. FIBRA Storage
Performance |
| Timeline |
| Martin Marietta Materials |
| FIBRA Storage |
Martin Marietta and FIBRA Storage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Martin Marietta and FIBRA Storage
The main advantage of trading using opposite Martin Marietta and FIBRA Storage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Martin Marietta position performs unexpectedly, FIBRA Storage 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 FIBRA Storage will offset losses from the drop in FIBRA Storage's long position.| Martin Marietta vs. Masco | Martin Marietta vs. TopBuild Corp | Martin Marietta vs. CEMEX SAB de | Martin Marietta vs. Corporacin Moctezuma SAB |
| FIBRA Storage vs. Apple Inc | FIBRA Storage vs. Microsoft | FIBRA Storage vs. Alphabet Inc Class A | FIBRA Storage vs. Alphabet Inc |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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