Correlation Between Grupo Televisa and Gentera SAB
Specify exactly 2 symbols:
By analyzing existing cross correlation between Grupo Televisa SAB and Gentera SAB de, you can compare the effects of market volatilities on Grupo Televisa and Gentera SAB 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 Grupo Televisa with a short position of Gentera SAB. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo Televisa and Gentera SAB.
Diversification Opportunities for Grupo Televisa and Gentera SAB
0.41 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Grupo and Gentera is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Televisa SAB and Gentera SAB de in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gentera SAB de and Grupo Televisa 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 Grupo Televisa SAB are associated (or correlated) with Gentera SAB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gentera SAB de has no effect on the direction of Grupo Televisa i.e., Grupo Televisa and Gentera SAB go up and down completely randomly.
Pair Corralation between Grupo Televisa and Gentera SAB
Assuming the 90 days trading horizon Grupo Televisa SAB is expected to under-perform the Gentera SAB. In addition to that, Grupo Televisa is 1.13 times more volatile than Gentera SAB de. It trades about -0.35 of its total potential returns per unit of risk. Gentera SAB de is currently generating about 0.1 per unit of volatility. If you would invest 2,450 in Gentera SAB de on August 31, 2024 and sell it today you would earn a total of 117.00 from holding Gentera SAB de or generate 4.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Grupo Televisa SAB vs. Gentera SAB de
Performance |
| Timeline |
| Grupo Televisa SAB |
| Gentera SAB de |
Grupo Televisa and Gentera SAB Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grupo Televisa and Gentera SAB
The main advantage of trading using opposite Grupo Televisa and Gentera SAB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo Televisa position performs unexpectedly, Gentera SAB 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 Gentera SAB will offset losses from the drop in Gentera SAB's long position.| Grupo Televisa vs. Fomento Econmico Mexicano | Grupo Televisa vs. Grupo Mxico SAB | Grupo Televisa vs. Grupo Financiero Banorte | Grupo Televisa vs. Alfa SAB de |
| Gentera SAB vs. Grupo Financiero Inbursa | Gentera SAB vs. Promotora y Operadora | Gentera SAB vs. ALPEK SAB de | Gentera SAB vs. Grupo Financiero Banorte |
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.
Other Complementary Tools
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account |