Correlation Between Sociedad Qumica and Cencosud
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By analyzing existing cross correlation between Sociedad Qumica y and Cencosud, you can compare the effects of market volatilities on Sociedad Qumica and Cencosud 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 Sociedad Qumica with a short position of Cencosud. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sociedad Qumica and Cencosud.
Diversification Opportunities for Sociedad Qumica and Cencosud
0.34 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Sociedad and Cencosud is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding Sociedad Qumica y and Cencosud in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cencosud and Sociedad Qumica 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 Sociedad Qumica y are associated (or correlated) with Cencosud. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cencosud has no effect on the direction of Sociedad Qumica i.e., Sociedad Qumica and Cencosud go up and down completely randomly.
Pair Corralation between Sociedad Qumica and Cencosud
If you would invest (100.00) in Cencosud on October 25, 2024 and sell it today you would earn a total of 100.00 from holding Cencosud or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 0.0% |
| Values | Daily Returns |
Sociedad Qumica y vs. Cencosud
Performance |
| Timeline |
| Sociedad Qumica y |
| Cencosud |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Solid
Sociedad Qumica and Cencosud Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sociedad Qumica and Cencosud
The main advantage of trading using opposite Sociedad Qumica and Cencosud positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sociedad Qumica position performs unexpectedly, Cencosud 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 Cencosud will offset losses from the drop in Cencosud's long position.| Sociedad Qumica vs. Sociedad Matriz SAAM | Sociedad Qumica vs. Sociedad Qumica y | Sociedad Qumica vs. Sociedad Punta del |
| Cencosud vs. Empresas Copec SA | Cencosud vs. Sociedad Qumica y | Cencosud vs. Banco Santander Chile | Cencosud vs. LATAM Airlines Group |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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