Correlation Between IPC MEXICO and Gentera SAB
Specify exactly 2 symbols:
By analyzing existing cross correlation between IPC MEXICO and Gentera SAB de, you can compare the effects of market volatilities on IPC MEXICO and Gentera SAB 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 Gentera SAB. Check out your portfolio center. Please also check ongoing floating volatility patterns of IPC MEXICO and Gentera SAB.
Diversification Opportunities for IPC MEXICO and Gentera SAB
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between IPC and Gentera is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding IPC MEXICO and Gentera SAB de in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gentera SAB de 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 Gentera SAB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gentera SAB de has no effect on the direction of IPC MEXICO i.e., IPC MEXICO and Gentera SAB go up and down completely randomly.
Pair Corralation between IPC MEXICO and Gentera SAB
Assuming the 90 days trading horizon IPC MEXICO is expected to under-perform the Gentera SAB. But the index apears to be less risky and, when comparing its historical volatility, IPC MEXICO is 2.44 times less risky than Gentera SAB. The index trades about -0.08 of its potential returns per unit of risk. The Gentera SAB de is currently generating about -0.01 of returns per unit of risk over similar time horizon. If you would invest 2,582 in Gentera SAB de on August 28, 2024 and sell it today you would lose (137.00) from holding Gentera SAB de or give up 5.31% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 97.67% |
| Values | Daily Returns |
IPC MEXICO vs. Gentera SAB de
Performance |
| Timeline |
IPC MEXICO and Gentera SAB Volatility Contrast
Predicted Return Density |
| Returns |
IPC MEXICO
Pair trading matchups for IPC MEXICO
Gentera SAB de
Pair trading matchups for Gentera SAB
Pair Trading with IPC MEXICO and Gentera SAB
The main advantage of trading using opposite IPC MEXICO and Gentera SAB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IPC MEXICO position performs unexpectedly, Gentera SAB 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 Gentera SAB will offset losses from the drop in Gentera SAB's long position.| IPC MEXICO vs. Grupo Carso SAB | IPC MEXICO vs. McEwen Mining | IPC MEXICO vs. Cognizant Technology Solutions | IPC MEXICO vs. Taiwan Semiconductor Manufacturing |
| Gentera SAB vs. Grupo Financiero Inbursa | Gentera SAB vs. Promotora y Operadora | Gentera SAB vs. ALPEK SAB de | Gentera SAB vs. Grupo Financiero Banorte |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
Other Complementary Tools
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine |