Correlation Between FIBRA Storage and Grupo Herdez
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By analyzing existing cross correlation between FIBRA Storage and Grupo Herdez SAB, you can compare the effects of market volatilities on FIBRA Storage and Grupo Herdez 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 Herdez. Check out your portfolio center. Please also check ongoing floating volatility patterns of FIBRA Storage and Grupo Herdez.
Diversification Opportunities for FIBRA Storage and Grupo Herdez
0.11 | Correlation Coefficient |
Average diversification
The 3 months correlation between FIBRA and Grupo is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding FIBRA Storage and Grupo Herdez SAB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grupo Herdez SAB 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 Herdez. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grupo Herdez SAB has no effect on the direction of FIBRA Storage i.e., FIBRA Storage and Grupo Herdez go up and down completely randomly.
Pair Corralation between FIBRA Storage and Grupo Herdez
Assuming the 90 days trading horizon FIBRA Storage is expected to generate 3.75 times less return on investment than Grupo Herdez. But when comparing it to its historical volatility, FIBRA Storage is 1.58 times less risky than Grupo Herdez. It trades about 0.02 of its potential returns per unit of risk. Grupo Herdez SAB is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 3,929 in Grupo Herdez SAB on September 14, 2024 and sell it today you would earn a total of 1,474 from holding Grupo Herdez SAB or generate 37.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
FIBRA Storage vs. Grupo Herdez SAB
Performance |
| Timeline |
| FIBRA Storage |
| Grupo Herdez SAB |
FIBRA Storage and Grupo Herdez Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FIBRA Storage and Grupo Herdez
The main advantage of trading using opposite FIBRA Storage and Grupo Herdez positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FIBRA Storage position performs unexpectedly, Grupo Herdez 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 Herdez will offset losses from the drop in Grupo Herdez's long position.| FIBRA Storage vs. Grupo Sports World | FIBRA Storage vs. Costco Wholesale | FIBRA Storage vs. DXC Technology | FIBRA Storage vs. FibraHotel |
| Grupo Herdez vs. Hoteles City Express | Grupo Herdez vs. Grupo Sports World | Grupo Herdez vs. KB Home | Grupo Herdez vs. GMxico Transportes SAB |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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