Correlation Between Grupo and AmTrust Financial
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By analyzing existing cross correlation between Grupo Televisa SAB and AmTrust Financial Services, you can compare the effects of market volatilities on Grupo and AmTrust Financial 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 with a short position of AmTrust Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo and AmTrust Financial.
Diversification Opportunities for Grupo and AmTrust Financial
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Grupo and AmTrust is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Televisa SAB and AmTrust Financial Services in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AmTrust Financial and Grupo 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 AmTrust Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AmTrust Financial has no effect on the direction of Grupo i.e., Grupo and AmTrust Financial go up and down completely randomly.
Pair Corralation between Grupo and AmTrust Financial
Assuming the 90 days trading horizon Grupo Televisa SAB is expected to generate 1.08 times more return on investment than AmTrust Financial. However, Grupo is 1.08 times more volatile than AmTrust Financial Services. It trades about 0.3 of its potential returns per unit of risk. AmTrust Financial Services is currently generating about 0.04 per unit of risk. If you would invest 10,909 in Grupo Televisa SAB on November 4, 2024 and sell it today you would earn a total of 895.00 from holding Grupo Televisa SAB or generate 8.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.0% |
| Values | Daily Returns |
Grupo Televisa SAB vs. AmTrust Financial Services
Performance |
| Timeline |
| Grupo Televisa SAB |
| AmTrust Financial |
Grupo and AmTrust Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grupo and AmTrust Financial
The main advantage of trading using opposite Grupo and AmTrust Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo position performs unexpectedly, AmTrust Financial 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 AmTrust Financial will offset losses from the drop in AmTrust Financial's long position.| Grupo vs. Perella Weinberg Partners | Grupo vs. Barrick Gold Corp | Grupo vs. ioneer Ltd American | Grupo vs. Western Acquisition Ventures |
| AmTrust Financial vs. AmTrust Financial Services | AmTrust Financial vs. AmTrust Financial Services | AmTrust Financial vs. AmTrust Financial Services | AmTrust Financial vs. AmTrust Financial Services |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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