Correlation Between Unifin Financiera and Gentera SAB
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By analyzing existing cross correlation between Unifin Financiera S and Gentera SAB de, you can compare the effects of market volatilities on Unifin Financiera 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 Unifin Financiera with a short position of Gentera SAB. Check out your portfolio center. Please also check ongoing floating volatility patterns of Unifin Financiera and Gentera SAB.
Diversification Opportunities for Unifin Financiera and Gentera SAB
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Unifin and Gentera is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Unifin Financiera S 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 Unifin Financiera 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 Unifin Financiera S 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 Unifin Financiera i.e., Unifin Financiera and Gentera SAB go up and down completely randomly.
Pair Corralation between Unifin Financiera and Gentera SAB
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 | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Unifin Financiera S vs. Gentera SAB de
Performance |
| Timeline |
| Unifin Financiera |
| Gentera SAB de |
Unifin Financiera and Gentera SAB Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Unifin Financiera and Gentera SAB
The main advantage of trading using opposite Unifin Financiera and Gentera SAB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Unifin Financiera 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.| Unifin Financiera vs. McEwen Mining | Unifin Financiera vs. Hoteles City Express | Unifin Financiera vs. Grupo Sports World | Unifin Financiera vs. Micron Technology |
| 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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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