Correlation Between FIBRA Storage and Hoteles City
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By analyzing existing cross correlation between FIBRA Storage and Hoteles City Express, you can compare the effects of market volatilities on FIBRA Storage and Hoteles City 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 Hoteles City. Check out your portfolio center. Please also check ongoing floating volatility patterns of FIBRA Storage and Hoteles City.
Diversification Opportunities for FIBRA Storage and Hoteles City
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between FIBRA and Hoteles is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding FIBRA Storage and Hoteles City Express in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hoteles City Express 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 Hoteles City. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hoteles City Express has no effect on the direction of FIBRA Storage i.e., FIBRA Storage and Hoteles City go up and down completely randomly.
Pair Corralation between FIBRA Storage and Hoteles City
Assuming the 90 days trading horizon FIBRA Storage is expected to generate 0.52 times more return on investment than Hoteles City. However, FIBRA Storage is 1.93 times less risky than Hoteles City. It trades about 0.03 of its potential returns per unit of risk. Hoteles City Express is currently generating about -0.01 per unit of risk. If you would invest 1,748 in FIBRA Storage on November 5, 2024 and sell it today you would earn a total of 122.00 from holding FIBRA Storage or generate 6.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
FIBRA Storage vs. Hoteles City Express
Performance |
| Timeline |
| FIBRA Storage |
| Hoteles City Express |
FIBRA Storage and Hoteles City Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FIBRA Storage and Hoteles City
The main advantage of trading using opposite FIBRA Storage and Hoteles City positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FIBRA Storage position performs unexpectedly, Hoteles City 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 Hoteles City will offset losses from the drop in Hoteles City's long position.| FIBRA Storage vs. Apple Inc | FIBRA Storage vs. Microsoft | FIBRA Storage vs. Alphabet Inc Class A | FIBRA Storage vs. Alphabet Inc |
| Hoteles City vs. Controladora Vuela Compaa | Hoteles City vs. Alsea SAB de | Hoteles City vs. Nemak S A | Hoteles City vs. Grupo Comercial Chedraui |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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