Correlation Between Unifin Financiera and United Airlines
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By analyzing existing cross correlation between Unifin Financiera S and United Airlines Holdings, you can compare the effects of market volatilities on Unifin Financiera and United Airlines 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 United Airlines. Check out your portfolio center. Please also check ongoing floating volatility patterns of Unifin Financiera and United Airlines.
Diversification Opportunities for Unifin Financiera and United Airlines
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Unifin and United is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Unifin Financiera S and United Airlines Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on United Airlines Holdings 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 United Airlines. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of United Airlines Holdings has no effect on the direction of Unifin Financiera i.e., Unifin Financiera and United Airlines go up and down completely randomly.
Pair Corralation between Unifin Financiera and United Airlines
If you would invest 112,499 in United Airlines Holdings on August 30, 2024 and sell it today you would earn a total of 93,501 from holding United Airlines Holdings or generate 83.11% 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. United Airlines Holdings
Performance |
| Timeline |
| Unifin Financiera |
| United Airlines Holdings |
Unifin Financiera and United Airlines Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Unifin Financiera and United Airlines
The main advantage of trading using opposite Unifin Financiera and United Airlines positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Unifin Financiera position performs unexpectedly, United Airlines 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 United Airlines will offset losses from the drop in United Airlines' long position.| Unifin Financiera vs. United Airlines Holdings | Unifin Financiera vs. Ameriprise Financial | Unifin Financiera vs. Cognizant Technology Solutions | Unifin Financiera vs. United States Steel |
| United Airlines vs. Costco Wholesale | United Airlines vs. Grupo Hotelero Santa | United Airlines vs. McEwen Mining | United Airlines vs. UnitedHealth Group Incorporated |
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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