Correlation Between Grupo and Southern BancShares
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By analyzing existing cross correlation between Grupo Televisa SAB and Southern BancShares PFD, you can compare the effects of market volatilities on Grupo and Southern BancShares 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 Southern BancShares. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo and Southern BancShares.
Diversification Opportunities for Grupo and Southern BancShares
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Grupo and Southern is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Televisa SAB and Southern BancShares PFD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Southern BancShares PFD 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 Southern BancShares. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Southern BancShares PFD has no effect on the direction of Grupo i.e., Grupo and Southern BancShares go up and down completely randomly.
Pair Corralation between Grupo and Southern BancShares
If you would invest 10,913 in Grupo Televisa SAB on November 3, 2024 and sell it today you would earn a total of 891.00 from holding Grupo Televisa SAB or generate 8.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 86.36% |
| Values | Daily Returns |
Grupo Televisa SAB vs. Southern BancShares PFD
Performance |
| Timeline |
| Grupo Televisa SAB |
| Southern BancShares PFD |
Grupo and Southern BancShares Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grupo and Southern BancShares
The main advantage of trading using opposite Grupo and Southern BancShares positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo position performs unexpectedly, Southern BancShares 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 Southern BancShares will offset losses from the drop in Southern BancShares' long position.The idea behind Grupo Televisa SAB and Southern BancShares PFD pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| Southern BancShares vs. Grocery Outlet Holding | Southern BancShares vs. PennantPark Floating Rate | Southern BancShares vs. FS KKR Capital | Southern BancShares vs. Gladstone Investment |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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