Correlation Between Grupo Simec and PSJHOG
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By analyzing existing cross correlation between Grupo Simec SAB and PSJHOG 27 01 OCT 51, you can compare the effects of market volatilities on Grupo Simec and PSJHOG 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 Simec with a short position of PSJHOG. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo Simec and PSJHOG.
Diversification Opportunities for Grupo Simec and PSJHOG
0.3 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Grupo and PSJHOG is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Simec SAB and PSJHOG 27 01 OCT 51 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PSJHOG 27 01 and Grupo Simec 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 Simec SAB are associated (or correlated) with PSJHOG. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PSJHOG 27 01 has no effect on the direction of Grupo Simec i.e., Grupo Simec and PSJHOG go up and down completely randomly.
Pair Corralation between Grupo Simec and PSJHOG
Considering the 90-day investment horizon Grupo Simec SAB is expected to under-perform the PSJHOG. In addition to that, Grupo Simec is 2.15 times more volatile than PSJHOG 27 01 OCT 51. It trades about 0.0 of its total potential returns per unit of risk. PSJHOG 27 01 OCT 51 is currently generating about 0.01 per unit of volatility. If you would invest 6,089 in PSJHOG 27 01 OCT 51 on December 12, 2024 and sell it today you would lose (73.00) from holding PSJHOG 27 01 OCT 51 or give up 1.2% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 58.53% |
| Values | Daily Returns |
Grupo Simec SAB vs. PSJHOG 27 01 OCT 51
Performance |
| Timeline |
| Grupo Simec SAB |
| PSJHOG 27 01 |
Grupo Simec and PSJHOG Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grupo Simec and PSJHOG
The main advantage of trading using opposite Grupo Simec and PSJHOG positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo Simec position performs unexpectedly, PSJHOG 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 PSJHOG will offset losses from the drop in PSJHOG's long position.| Grupo Simec vs. Synalloy | ||
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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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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