Correlation Between SP Merval and PSI 20
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By analyzing existing cross correlation between SP Merval and PSI 20 Stock, you can compare the effects of market volatilities on SP Merval and PSI 20 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 SP Merval with a short position of PSI 20. Check out your portfolio center. Please also check ongoing floating volatility patterns of SP Merval and PSI 20.
Diversification Opportunities for SP Merval and PSI 20
Modest diversification
The 3 months correlation between MERV and PSI is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding SP Merval and PSI 20 Stock in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PSI 20 Stock and SP Merval 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 SP Merval are associated (or correlated) with PSI 20. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PSI 20 Stock has no effect on the direction of SP Merval i.e., SP Merval and PSI 20 go up and down completely randomly.
Pair Corralation between SP Merval and PSI 20
If you would invest 630,721 in PSI 20 Stock on February 1, 2024 and sell it today you would earn a total of 30,835 from holding PSI 20 Stock or generate 4.89% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 95.24% |
Values | Daily Returns |
SP Merval vs. PSI 20 Stock
Performance |
Timeline |
SP Merval and PSI 20 Volatility Contrast
Predicted Return Density |
Returns |
SP Merval
Pair trading matchups for SP Merval
Pair Trading with SP Merval and PSI 20
The main advantage of trading using opposite SP Merval and PSI 20 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SP Merval position performs unexpectedly, PSI 20 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 PSI 20 will offset losses from the drop in PSI 20's long position.SP Merval vs. Compania de Transporte | SP Merval vs. Telecom Argentina | SP Merval vs. Harmony Gold Mining | SP Merval vs. Transportadora de Gas |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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