Correlation Between Prosegur Cash and CH Robinson
Can any of the company-specific risk be diversified away by investing in both Prosegur Cash and CH Robinson 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 Prosegur Cash and CH Robinson into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Prosegur Cash SA and CH Robinson Worldwide, you can compare the effects of market volatilities on Prosegur Cash and CH Robinson 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 Prosegur Cash with a short position of CH Robinson. Check out your portfolio center. Please also check ongoing floating volatility patterns of Prosegur Cash and CH Robinson.
Diversification Opportunities for Prosegur Cash and CH Robinson
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Prosegur and CHRW is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Prosegur Cash SA and CH Robinson Worldwide in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CH Robinson Worldwide and Prosegur Cash 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 Prosegur Cash SA are associated (or correlated) with CH Robinson. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CH Robinson Worldwide has no effect on the direction of Prosegur Cash i.e., Prosegur Cash and CH Robinson go up and down completely randomly.
Pair Corralation between Prosegur Cash and CH Robinson
Assuming the 90 days horizon Prosegur Cash SA is expected to under-perform the CH Robinson. But the pink sheet apears to be less risky and, when comparing its historical volatility, Prosegur Cash SA is 1.36 times less risky than CH Robinson. The pink sheet trades about 0.0 of its potential returns per unit of risk. The CH Robinson Worldwide is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 9,948 in CH Robinson Worldwide on November 5, 2024 and sell it today you would earn a total of 1.00 from holding CH Robinson Worldwide or generate 0.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 65.99% |
| Values | Daily Returns |
Prosegur Cash SA vs. CH Robinson Worldwide
Performance |
| Timeline |
| Prosegur Cash SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| CH Robinson Worldwide |
Prosegur Cash and CH Robinson Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Prosegur Cash and CH Robinson
The main advantage of trading using opposite Prosegur Cash and CH Robinson positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Prosegur Cash position performs unexpectedly, CH Robinson 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 CH Robinson will offset losses from the drop in CH Robinson's long position.| Prosegur Cash vs. Freightos Limited Ordinary | Prosegur Cash vs. Addentax Group Corp | Prosegur Cash vs. Forward Air | Prosegur Cash vs. Shengfeng Development Limited |
| CH Robinson vs. JB Hunt Transport | CH Robinson vs. Landstar System | CH Robinson vs. Hub Group | CH Robinson vs. Forward Air |
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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