Correlation Between Exxon and Grupo Carso
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By analyzing existing cross correlation between Exxon Mobil and Grupo Carso SAB, you can compare the effects of market volatilities on Exxon and Grupo Carso 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 Exxon with a short position of Grupo Carso. Check out your portfolio center. Please also check ongoing floating volatility patterns of Exxon and Grupo Carso.
Diversification Opportunities for Exxon and Grupo Carso
0.5 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Exxon and Grupo is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding Exxon Mobil and Grupo Carso SAB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grupo Carso SAB and Exxon 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 Exxon Mobil are associated (or correlated) with Grupo Carso. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grupo Carso SAB has no effect on the direction of Exxon i.e., Exxon and Grupo Carso go up and down completely randomly.
Pair Corralation between Exxon and Grupo Carso
Assuming the 90 days trading horizon Exxon is expected to generate 1.27 times less return on investment than Grupo Carso. But when comparing it to its historical volatility, Exxon Mobil is 1.05 times less risky than Grupo Carso. It trades about 0.08 of its potential returns per unit of risk. Grupo Carso SAB is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 11,199 in Grupo Carso SAB on November 30, 2024 and sell it today you would earn a total of 708.00 from holding Grupo Carso SAB or generate 6.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Exxon Mobil vs. Grupo Carso SAB
Performance |
| Timeline |
| Exxon Mobil |
| Grupo Carso SAB |
Exxon and Grupo Carso Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Exxon and Grupo Carso
The main advantage of trading using opposite Exxon and Grupo Carso positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Exxon position performs unexpectedly, Grupo Carso 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 Grupo Carso will offset losses from the drop in Grupo Carso's long position.| Exxon vs. Salesforce, | Exxon vs. Cognizant Technology Solutions | Exxon vs. United States Steel | Exxon vs. Verizon Communications |
| Grupo Carso vs. Grupo Financiero Inbursa | Grupo Carso vs. Alfa SAB de | Grupo Carso vs. Kimberly Clark de Mxico | Grupo Carso vs. Grupo Televisa SAB |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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