Correlation Between Grupo Security and Multiexport Foods
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By analyzing existing cross correlation between Grupo Security and Multiexport Foods SA, you can compare the effects of market volatilities on Grupo Security and Multiexport Foods 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 Grupo Security with a short position of Multiexport Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo Security and Multiexport Foods.
Diversification Opportunities for Grupo Security and Multiexport Foods
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Grupo and Multiexport is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Security and Multiexport Foods SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Multiexport Foods and Grupo Security 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 Grupo Security are associated (or correlated) with Multiexport Foods. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Multiexport Foods has no effect on the direction of Grupo Security i.e., Grupo Security and Multiexport Foods go up and down completely randomly.
Pair Corralation between Grupo Security and Multiexport Foods
Assuming the 90 days trading horizon Grupo Security is expected to generate 1.04 times more return on investment than Multiexport Foods. However, Grupo Security is 1.04 times more volatile than Multiexport Foods SA. It trades about 0.11 of its potential returns per unit of risk. Multiexport Foods SA is currently generating about 0.0 per unit of risk. If you would invest 14,151 in Grupo Security on August 30, 2024 and sell it today you would earn a total of 12,417 from holding Grupo Security or generate 87.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 80.57% |
| Values | Daily Returns |
Grupo Security vs. Multiexport Foods SA
Performance |
| Timeline |
| Grupo Security |
| Multiexport Foods |
Grupo Security and Multiexport Foods Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grupo Security and Multiexport Foods
The main advantage of trading using opposite Grupo Security and Multiexport Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo Security position performs unexpectedly, Multiexport Foods 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 Multiexport Foods will offset losses from the drop in Multiexport Foods' long position.| Grupo Security vs. Multiexport Foods SA | Grupo Security vs. Banco de Credito | Grupo Security vs. LATAM Airlines Group |
| Multiexport Foods vs. Embotelladora Andina SA | Multiexport Foods vs. Administradora Americana de | Multiexport Foods vs. Las Condes | Multiexport Foods vs. Energia Latina SA |
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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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