Correlation Between FIBRA Storage and Fibra UNO
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By analyzing existing cross correlation between FIBRA Storage and Fibra UNO, you can compare the effects of market volatilities on FIBRA Storage and Fibra UNO 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 Fibra UNO. Check out your portfolio center. Please also check ongoing floating volatility patterns of FIBRA Storage and Fibra UNO.
Diversification Opportunities for FIBRA Storage and Fibra UNO
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between FIBRA and Fibra is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding FIBRA Storage and Fibra UNO in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fibra UNO 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 Fibra UNO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fibra UNO has no effect on the direction of FIBRA Storage i.e., FIBRA Storage and Fibra UNO go up and down completely randomly.
Pair Corralation between FIBRA Storage and Fibra UNO
Assuming the 90 days trading horizon FIBRA Storage is expected to generate 1.37 times less return on investment than Fibra UNO. But when comparing it to its historical volatility, FIBRA Storage is 1.62 times less risky than Fibra UNO. It trades about 0.02 of its potential returns per unit of risk. Fibra UNO is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 2,022 in Fibra UNO on September 14, 2024 and sell it today you would earn a total of 145.00 from holding Fibra UNO or generate 7.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
FIBRA Storage vs. Fibra UNO
Performance |
| Timeline |
| FIBRA Storage |
| Fibra UNO |
FIBRA Storage and Fibra UNO Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FIBRA Storage and Fibra UNO
The main advantage of trading using opposite FIBRA Storage and Fibra UNO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FIBRA Storage position performs unexpectedly, Fibra UNO 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 Fibra UNO will offset losses from the drop in Fibra UNO's long position.| FIBRA Storage vs. Grupo Sports World | FIBRA Storage vs. Costco Wholesale | FIBRA Storage vs. DXC Technology | FIBRA Storage vs. FibraHotel |
| Fibra UNO vs. New Oriental Education | Fibra UNO vs. FIBRA Storage | Fibra UNO vs. Ameriprise Financial | Fibra UNO vs. Martin Marietta Materials |
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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