Correlation Between OPERADORA and GMxico Transportes
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By analyzing existing cross correlation between OPERADORA DE SITES and GMxico Transportes SAB, you can compare the effects of market volatilities on OPERADORA and GMxico Transportes 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 OPERADORA with a short position of GMxico Transportes. Check out your portfolio center. Please also check ongoing floating volatility patterns of OPERADORA and GMxico Transportes.
Diversification Opportunities for OPERADORA and GMxico Transportes
-0.14 | Correlation Coefficient |
Good diversification
The 3 months correlation between OPERADORA and GMxico is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding OPERADORA DE SITES and GMxico Transportes SAB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GMxico Transportes SAB and OPERADORA 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 OPERADORA DE SITES are associated (or correlated) with GMxico Transportes. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GMxico Transportes SAB has no effect on the direction of OPERADORA i.e., OPERADORA and GMxico Transportes go up and down completely randomly.
Pair Corralation between OPERADORA and GMxico Transportes
Assuming the 90 days trading horizon OPERADORA DE SITES is expected to under-perform the GMxico Transportes. In addition to that, OPERADORA is 1.49 times more volatile than GMxico Transportes SAB. It trades about -0.01 of its total potential returns per unit of risk. GMxico Transportes SAB is currently generating about -0.01 per unit of volatility. If you would invest 3,536 in GMxico Transportes SAB on September 4, 2024 and sell it today you would lose (369.00) from holding GMxico Transportes SAB or give up 10.44% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
OPERADORA DE SITES vs. GMxico Transportes SAB
Performance |
| Timeline |
| OPERADORA DE SITES |
| GMxico Transportes SAB |
OPERADORA and GMxico Transportes Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with OPERADORA and GMxico Transportes
The main advantage of trading using opposite OPERADORA and GMxico Transportes positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if OPERADORA position performs unexpectedly, GMxico Transportes 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 GMxico Transportes will offset losses from the drop in GMxico Transportes' long position.The idea behind OPERADORA DE SITES and GMxico Transportes SAB pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| GMxico Transportes vs. Grupo Mxico SAB | GMxico Transportes vs. The Select Sector | GMxico Transportes vs. Promotora y Operadora | GMxico Transportes vs. SPDR Series Trust |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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