Correlation Between FIBRA Storage and Grupo Cementos
Specify exactly 2 symbols:
By analyzing existing cross correlation between FIBRA Storage and Grupo Cementos de, you can compare the effects of market volatilities on FIBRA Storage and Grupo Cementos 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 Grupo Cementos. Check out your portfolio center. Please also check ongoing floating volatility patterns of FIBRA Storage and Grupo Cementos.
Diversification Opportunities for FIBRA Storage and Grupo Cementos
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between FIBRA and Grupo is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding FIBRA Storage and Grupo Cementos de in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grupo Cementos de 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 Grupo Cementos. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grupo Cementos de has no effect on the direction of FIBRA Storage i.e., FIBRA Storage and Grupo Cementos go up and down completely randomly.
Pair Corralation between FIBRA Storage and Grupo Cementos
Assuming the 90 days trading horizon FIBRA Storage is expected to generate 5.7 times less return on investment than Grupo Cementos. But when comparing it to its historical volatility, FIBRA Storage is 2.99 times less risky than Grupo Cementos. It trades about 0.1 of its potential returns per unit of risk. Grupo Cementos de is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest 16,002 in Grupo Cementos de on August 30, 2024 and sell it today you would earn a total of 1,613 from holding Grupo Cementos de or generate 10.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
FIBRA Storage vs. Grupo Cementos de
Performance |
| Timeline |
| FIBRA Storage |
| Grupo Cementos de |
FIBRA Storage and Grupo Cementos Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FIBRA Storage and Grupo Cementos
The main advantage of trading using opposite FIBRA Storage and Grupo Cementos positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FIBRA Storage position performs unexpectedly, Grupo Cementos 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 Cementos will offset losses from the drop in Grupo Cementos' long position.| FIBRA Storage vs. McEwen Mining | FIBRA Storage vs. Taiwan Semiconductor Manufacturing | FIBRA Storage vs. Micron Technology | FIBRA Storage vs. United Airlines Holdings |
| Grupo Cementos vs. Enphase Energy, | Grupo Cementos vs. The Home Depot | Grupo Cementos vs. The Select Sector | Grupo Cementos vs. Promotora y Operadora |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
Other Complementary Tools
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities |