Correlation Between AFP Planvital and Salfacorp
Specify exactly 2 symbols:
By analyzing existing cross correlation between AFP Planvital SA and Salfacorp, you can compare the effects of market volatilities on AFP Planvital and Salfacorp 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 AFP Planvital with a short position of Salfacorp. Check out your portfolio center. Please also check ongoing floating volatility patterns of AFP Planvital and Salfacorp.
Diversification Opportunities for AFP Planvital and Salfacorp
-0.27 | Correlation Coefficient |
Very good diversification
The 3 months correlation between AFP and Salfacorp is -0.27. Overlapping area represents the amount of risk that can be diversified away by holding AFP Planvital SA and Salfacorp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Salfacorp and AFP Planvital 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 AFP Planvital SA are associated (or correlated) with Salfacorp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Salfacorp has no effect on the direction of AFP Planvital i.e., AFP Planvital and Salfacorp go up and down completely randomly.
Pair Corralation between AFP Planvital and Salfacorp
If you would invest 16,400 in AFP Planvital SA on August 24, 2024 and sell it today you would earn a total of 0.00 from holding AFP Planvital SA or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AFP Planvital SA vs. Salfacorp
Performance |
| Timeline |
| AFP Planvital SA |
| Salfacorp |
AFP Planvital and Salfacorp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AFP Planvital and Salfacorp
The main advantage of trading using opposite AFP Planvital and Salfacorp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AFP Planvital position performs unexpectedly, Salfacorp 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 Salfacorp will offset losses from the drop in Salfacorp's long position.| AFP Planvital vs. AFP Provida | AFP Planvital vs. AFP Habitat | AFP Planvital vs. Aguas Andinas SA | AFP Planvital vs. Parq Arauco |
| Salfacorp vs. Aguas Andinas SA | Salfacorp vs. Parq Arauco | Salfacorp vs. Enel Generacin Chile | Salfacorp vs. Sociedad Matriz SAAM |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
Other Complementary Tools
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals |