Correlation Between Grupo Sports and Grupo Famsa

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Can any of the company-specific risk be diversified away by investing in both Grupo Sports and Grupo Famsa 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 Grupo Sports and Grupo Famsa into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Grupo Sports World and Grupo Famsa SAB, you can compare the effects of market volatilities on Grupo Sports and Grupo Famsa 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 Sports with a short position of Grupo Famsa. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo Sports and Grupo Famsa.

Diversification Opportunities for Grupo Sports and Grupo Famsa

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between Grupo and Grupo is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Sports World and Grupo Famsa SAB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grupo Famsa SAB and Grupo Sports 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 Sports World are associated (or correlated) with Grupo Famsa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grupo Famsa SAB has no effect on the direction of Grupo Sports i.e., Grupo Sports and Grupo Famsa go up and down completely randomly.

Pair Corralation between Grupo Sports and Grupo Famsa

If you would invest  365.00  in Grupo Sports World on September 5, 2024 and sell it today you would earn a total of  273.00  from holding Grupo Sports World or generate 74.79% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Grupo Sports World  vs.  Grupo Famsa SAB

 Performance 
       Timeline  
Grupo Sports World 

Risk-Adjusted Performance

12 of 100

 
Weak
 
Strong
Good
Compared to the overall equity markets, risk-adjusted returns on investments in Grupo Sports World are ranked lower than 12 (%) of all global equities and portfolios over the last 90 days. Despite somewhat weak basic indicators, Grupo Sports sustained solid returns over the last few months and may actually be approaching a breakup point.
Grupo Famsa SAB 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days Grupo Famsa SAB has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong primary indicators, Grupo Famsa is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Grupo Sports and Grupo Famsa Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Grupo Sports and Grupo Famsa

The main advantage of trading using opposite Grupo Sports and Grupo Famsa positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo Sports position performs unexpectedly, Grupo Famsa 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 Famsa will offset losses from the drop in Grupo Famsa's long position.
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The idea behind Grupo Sports World and Grupo Famsa 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.
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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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.

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