Correlation Between Fondo Mutuo and SPBVL Peru
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By analyzing existing cross correlation between Fondo Mutuo ETF and SPBVL Peru General, you can compare the effects of market volatilities on Fondo Mutuo and SPBVL Peru 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 Fondo Mutuo with a short position of SPBVL Peru. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fondo Mutuo and SPBVL Peru.
Diversification Opportunities for Fondo Mutuo and SPBVL Peru
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Fondo and SPBVL is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding Fondo Mutuo ETF and SPBVL Peru General in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SPBVL Peru General and Fondo Mutuo 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 Fondo Mutuo ETF are associated (or correlated) with SPBVL Peru. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SPBVL Peru General has no effect on the direction of Fondo Mutuo i.e., Fondo Mutuo and SPBVL Peru go up and down completely randomly.
Pair Corralation between Fondo Mutuo and SPBVL Peru
Assuming the 90 days trading horizon Fondo Mutuo ETF is expected to under-perform the SPBVL Peru. In addition to that, Fondo Mutuo is 1.5 times more volatile than SPBVL Peru General. It trades about -0.04 of its total potential returns per unit of risk. SPBVL Peru General is currently generating about 0.39 per unit of volatility. If you would invest 2,747,922 in SPBVL Peru General on February 5, 2024 and sell it today you would earn a total of 156,177 from holding SPBVL Peru General or generate 5.68% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 95.24% |
Values | Daily Returns |
Fondo Mutuo ETF vs. SPBVL Peru General
Performance |
Timeline |
Fondo Mutuo and SPBVL Peru Volatility Contrast
Predicted Return Density |
Returns |
Fondo Mutuo ETF
Pair trading matchups for Fondo Mutuo
SPBVL Peru General
Pair trading matchups for SPBVL Peru
Pair Trading with Fondo Mutuo and SPBVL Peru
The main advantage of trading using opposite Fondo Mutuo and SPBVL Peru positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fondo Mutuo position performs unexpectedly, SPBVL Peru 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 SPBVL Peru will offset losses from the drop in SPBVL Peru's long position.Fondo Mutuo vs. Fondo De Inversion | Fondo Mutuo vs. Fondo De Inversion | Fondo Mutuo vs. Fondo de Inversin | Fondo Mutuo vs. Fondo de Inversion |
SPBVL Peru vs. Banco de Credito | SPBVL Peru vs. Bank of America | SPBVL Peru vs. Scotiabank Peru SAA | SPBVL Peru vs. InRetail Peru Corp |
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 Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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