Correlation Between IPC MEXICO and Grupo Elektra
Specify exactly 2 symbols:
By analyzing existing cross correlation between IPC MEXICO and Grupo Elektra SAB, you can compare the effects of market volatilities on IPC MEXICO and Grupo Elektra 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 IPC MEXICO with a short position of Grupo Elektra. Check out your portfolio center. Please also check ongoing floating volatility patterns of IPC MEXICO and Grupo Elektra.
Diversification Opportunities for IPC MEXICO and Grupo Elektra
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between IPC and Grupo is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding IPC MEXICO and Grupo Elektra SAB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grupo Elektra SAB and IPC MEXICO 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 IPC MEXICO are associated (or correlated) with Grupo Elektra. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grupo Elektra SAB has no effect on the direction of IPC MEXICO i.e., IPC MEXICO and Grupo Elektra go up and down completely randomly.
Pair Corralation between IPC MEXICO and Grupo Elektra
Assuming the 90 days trading horizon IPC MEXICO is expected to generate 0.98 times more return on investment than Grupo Elektra. However, IPC MEXICO is 1.02 times less risky than Grupo Elektra. It trades about -0.07 of its potential returns per unit of risk. Grupo Elektra SAB is currently generating about -0.12 per unit of risk. If you would invest 5,441,051 in IPC MEXICO on September 2, 2024 and sell it today you would lose (470,067) from holding IPC MEXICO or give up 8.64% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 96.92% |
| Values | Daily Returns |
IPC MEXICO vs. Grupo Elektra SAB
Performance |
| Timeline |
IPC MEXICO and Grupo Elektra Volatility Contrast
Predicted Return Density |
| Returns |
IPC MEXICO
Pair trading matchups for IPC MEXICO
Grupo Elektra SAB
Pair trading matchups for Grupo Elektra
Pair Trading with IPC MEXICO and Grupo Elektra
The main advantage of trading using opposite IPC MEXICO and Grupo Elektra positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IPC MEXICO position performs unexpectedly, Grupo Elektra 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 Grupo Elektra will offset losses from the drop in Grupo Elektra's long position.| IPC MEXICO vs. Grupo Sports World | IPC MEXICO vs. Capital One Financial | IPC MEXICO vs. Prudential Financial | IPC MEXICO vs. FibraHotel |
| Grupo Elektra vs. Grupo Financiero Inbursa | Grupo Elektra vs. Grupo Televisa SAB | Grupo Elektra vs. Grupo Carso SAB | Grupo Elektra vs. Kimberly Clark de Mxico |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
Other Complementary Tools
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum |