Correlation Between Grupo Simec and JetAI
Can any of the company-specific risk be diversified away by investing in both Grupo Simec and JetAI 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 Grupo Simec and JetAI into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Grupo Simec SAB and JetAI Inc, you can compare the effects of market volatilities on Grupo Simec and JetAI 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 Simec with a short position of JetAI. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo Simec and JetAI.
Diversification Opportunities for Grupo Simec and JetAI
-0.27 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Grupo and JetAI is -0.27. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Simec SAB and JetAI Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JetAI Inc and Grupo Simec 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 Simec SAB are associated (or correlated) with JetAI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JetAI Inc has no effect on the direction of Grupo Simec i.e., Grupo Simec and JetAI go up and down completely randomly.
Pair Corralation between Grupo Simec and JetAI
Considering the 90-day investment horizon Grupo Simec SAB is expected to generate 0.4 times more return on investment than JetAI. However, Grupo Simec SAB is 2.52 times less risky than JetAI. It trades about 0.04 of its potential returns per unit of risk. JetAI Inc is currently generating about -0.08 per unit of risk. If you would invest 2,714 in Grupo Simec SAB on June 7, 2025 and sell it today you would earn a total of 82.00 from holding Grupo Simec SAB or generate 3.02% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Grupo Simec SAB vs. JetAI Inc
Performance |
| Timeline |
| Grupo Simec SAB |
| JetAI Inc |
Grupo Simec and JetAI Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grupo Simec and JetAI
The main advantage of trading using opposite Grupo Simec and JetAI positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grupo Simec position performs unexpectedly, JetAI 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 JetAI will offset losses from the drop in JetAI's long position.| Grupo Simec vs. Friedman Industries Common | Grupo Simec vs. Ferrexpo PLC | Grupo Simec vs. Olympic Steel | Grupo Simec vs. Insteel Industries |
| JetAI vs. British American Tobacco | JetAI vs. ASE Industrial Holding | JetAI vs. Advanced Micro Devices | JetAI vs. Keurig Dr Pepper |
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 CEOs Directory module to screen CEOs from public companies around the world.
Other Complementary Tools
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities |