Correlation Between FIBRA Storage and Grupo Sports
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By analyzing existing cross correlation between FIBRA Storage and Grupo Sports World, you can compare the effects of market volatilities on FIBRA Storage and Grupo Sports 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 Sports. Check out your portfolio center. Please also check ongoing floating volatility patterns of FIBRA Storage and Grupo Sports.
Diversification Opportunities for FIBRA Storage and Grupo Sports
-0.51 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between FIBRA and Grupo is -0.51. Overlapping area represents the amount of risk that can be diversified away by holding FIBRA Storage and Grupo Sports World in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grupo Sports World 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 Sports. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grupo Sports World has no effect on the direction of FIBRA Storage i.e., FIBRA Storage and Grupo Sports go up and down completely randomly.
Pair Corralation between FIBRA Storage and Grupo Sports
Assuming the 90 days trading horizon FIBRA Storage is expected to generate 1.27 times more return on investment than Grupo Sports. However, FIBRA Storage is 1.27 times more volatile than Grupo Sports World. It trades about 0.1 of its potential returns per unit of risk. Grupo Sports World is currently generating about -0.05 per unit of risk. If you would invest 1,790 in FIBRA Storage on November 3, 2024 and sell it today you would earn a total of 80.00 from holding FIBRA Storage or generate 4.47% 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. Grupo Sports World
Performance |
| Timeline |
| FIBRA Storage |
| Grupo Sports World |
FIBRA Storage and Grupo Sports Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FIBRA Storage and Grupo Sports
The main advantage of trading using opposite FIBRA Storage and Grupo Sports positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FIBRA Storage position performs unexpectedly, Grupo Sports 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 Sports will offset losses from the drop in Grupo Sports' long position.| FIBRA Storage vs. The Bank of | FIBRA Storage vs. McEwen Mining | FIBRA Storage vs. Grupo Sports World | FIBRA Storage vs. Cognizant Technology Solutions |
| Grupo Sports vs. Ameriprise Financial | Grupo Sports vs. Verizon Communications | Grupo Sports vs. Cognizant Technology Solutions | Grupo Sports vs. Southern Copper |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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