Correlation Between RLH Properties and Grupo Gicsa
Can any of the company-specific risk be diversified away by investing in both RLH Properties and Grupo Gicsa 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 RLH Properties and Grupo Gicsa into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between RLH Properties SAB and Grupo Gicsa SA, you can compare the effects of market volatilities on RLH Properties and Grupo Gicsa 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 RLH Properties with a short position of Grupo Gicsa. Check out your portfolio center. Please also check ongoing floating volatility patterns of RLH Properties and Grupo Gicsa.
Diversification Opportunities for RLH Properties and Grupo Gicsa
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between RLH and Grupo is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding RLH Properties SAB and Grupo Gicsa SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grupo Gicsa SA and RLH Properties 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 RLH Properties SAB are associated (or correlated) with Grupo Gicsa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grupo Gicsa SA has no effect on the direction of RLH Properties i.e., RLH Properties and Grupo Gicsa go up and down completely randomly.
Pair Corralation between RLH Properties and Grupo Gicsa
If you would invest 225.00 in Grupo Gicsa SA on September 2, 2024 and sell it today you would earn a total of 5.00 from holding Grupo Gicsa SA or generate 2.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
RLH Properties SAB vs. Grupo Gicsa SA
Performance |
| Timeline |
| RLH Properties SAB |
| Grupo Gicsa SA |
RLH Properties and Grupo Gicsa Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with RLH Properties and Grupo Gicsa
The main advantage of trading using opposite RLH Properties and Grupo Gicsa positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if RLH Properties position performs unexpectedly, Grupo Gicsa 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 Gicsa will offset losses from the drop in Grupo Gicsa's long position.| RLH Properties vs. Grupo Hotelero Santa | RLH Properties vs. Delta Air Lines | RLH Properties vs. Verizon Communications | RLH Properties vs. FIBRA Storage |
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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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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