Correlation Between FIBRA Storage and Bayerische Motoren
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By analyzing existing cross correlation between FIBRA Storage and Bayerische Motoren Werke, you can compare the effects of market volatilities on FIBRA Storage and Bayerische Motoren 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 FIBRA Storage with a short position of Bayerische Motoren. Check out your portfolio center. Please also check ongoing floating volatility patterns of FIBRA Storage and Bayerische Motoren.
Diversification Opportunities for FIBRA Storage and Bayerische Motoren
0.3 | Correlation Coefficient |
Weak diversification
The 3 months correlation between FIBRA and Bayerische is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding FIBRA Storage and Bayerische Motoren Werke in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bayerische Motoren Werke and FIBRA Storage 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 FIBRA Storage are associated (or correlated) with Bayerische Motoren. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bayerische Motoren Werke has no effect on the direction of FIBRA Storage i.e., FIBRA Storage and Bayerische Motoren go up and down completely randomly.
Pair Corralation between FIBRA Storage and Bayerische Motoren
If you would invest 1,700 in FIBRA Storage on September 19, 2024 and sell it today you would earn a total of 90.00 from holding FIBRA Storage or generate 5.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
FIBRA Storage vs. Bayerische Motoren Werke
Performance |
| Timeline |
| FIBRA Storage |
| Bayerische Motoren Werke |
FIBRA Storage and Bayerische Motoren Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FIBRA Storage and Bayerische Motoren
The main advantage of trading using opposite FIBRA Storage and Bayerische Motoren positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FIBRA Storage position performs unexpectedly, Bayerische Motoren 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 Bayerische Motoren will offset losses from the drop in Bayerische Motoren's long position.| FIBRA Storage vs. Apple Inc | FIBRA Storage vs. Microsoft | FIBRA Storage vs. Alphabet Inc Class A | FIBRA Storage vs. Alphabet Inc |
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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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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