Correlation Between Evgo and Cresud SACIF
Can any of the company-specific risk be diversified away by investing in both Evgo and Cresud SACIF at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Evgo and Cresud SACIF into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Evgo Inc and Cresud SACIF y, you can compare the effects of market volatilities on Evgo and Cresud SACIF 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 Evgo with a short position of Cresud SACIF. Check out your portfolio center. Please also check ongoing floating volatility patterns of Evgo and Cresud SACIF.
Diversification Opportunities for Evgo and Cresud SACIF
-0.73 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Evgo and Cresud is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding Evgo Inc and Cresud SACIF y in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cresud SACIF y and Evgo 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 Evgo Inc are associated (or correlated) with Cresud SACIF. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cresud SACIF y has no effect on the direction of Evgo i.e., Evgo and Cresud SACIF go up and down completely randomly.
Pair Corralation between Evgo and Cresud SACIF
Given the investment horizon of 90 days Evgo Inc is expected to generate 1.32 times more return on investment than Cresud SACIF. However, Evgo is 1.32 times more volatile than Cresud SACIF y. It trades about 0.06 of its potential returns per unit of risk. Cresud SACIF y is currently generating about -0.05 per unit of risk. If you would invest 384.00 in Evgo Inc on July 20, 2025 and sell it today you would earn a total of 41.00 from holding Evgo Inc or generate 10.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Evgo Inc vs. Cresud SACIF y
Performance |
| Timeline |
| Evgo Inc |
| Cresud SACIF y |
Evgo and Cresud SACIF Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Evgo and Cresud SACIF
The main advantage of trading using opposite Evgo and Cresud SACIF positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Evgo position performs unexpectedly, Cresud SACIF 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 Cresud SACIF will offset losses from the drop in Cresud SACIF's long position.The idea behind Evgo Inc and Cresud SACIF y 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.| Cresud SACIF vs. Compass Diversified Holdings | Cresud SACIF vs. FTAI Infrastructure | Cresud SACIF vs. Cool Company | Cresud SACIF vs. Sun Country Airlines |
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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
Other Complementary Tools
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Money Managers Screen money managers from public funds and ETFs managed around the world |