Correlation Between Cresud SACIF and 70082LAB3
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By analyzing existing cross correlation between Cresud SACIF y and US70082LAB36, you can compare the effects of market volatilities on Cresud SACIF and 70082LAB3 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 Cresud SACIF with a short position of 70082LAB3. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cresud SACIF and 70082LAB3.
Diversification Opportunities for Cresud SACIF and 70082LAB3
-0.27 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Cresud and 70082LAB3 is -0.27. Overlapping area represents the amount of risk that can be diversified away by holding Cresud SACIF y and US70082LAB36 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on US70082LAB36 and Cresud SACIF 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 Cresud SACIF y are associated (or correlated) with 70082LAB3. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of US70082LAB36 has no effect on the direction of Cresud SACIF i.e., Cresud SACIF and 70082LAB3 go up and down completely randomly.
Pair Corralation between Cresud SACIF and 70082LAB3
Assuming the 90 days horizon Cresud SACIF y is expected to under-perform the 70082LAB3. But the stock apears to be less risky and, when comparing its historical volatility, Cresud SACIF y is 1.37 times less risky than 70082LAB3. The stock trades about -0.01 of its potential returns per unit of risk. The US70082LAB36 is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 7,949 in US70082LAB36 on March 23, 2025 and sell it today you would earn a total of 551.00 from holding US70082LAB36 or generate 6.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 46.77% |
| Values | Daily Returns |
Cresud SACIF y vs. US70082LAB36
Performance |
| Timeline |
| Cresud SACIF y |
| US70082LAB36 |
Cresud SACIF and 70082LAB3 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cresud SACIF and 70082LAB3
The main advantage of trading using opposite Cresud SACIF and 70082LAB3 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cresud SACIF position performs unexpectedly, 70082LAB3 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 70082LAB3 will offset losses from the drop in 70082LAB3's long position.| Cresud SACIF vs. Griffon | Cresud SACIF vs. Matthews International | Cresud SACIF vs. Valmont Industries | Cresud SACIF vs. Brookfield Business Partners |
| 70082LAB3 vs. American Vanguard | 70082LAB3 vs. Allegion PLC | 70082LAB3 vs. Cresud SACIF y | 70082LAB3 vs. Gevo Inc |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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