Correlation Between Techo Hogar and Squirrel Media
Can any of the company-specific risk be diversified away by investing in both Techo Hogar and Squirrel Media 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 Techo Hogar and Squirrel Media into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Techo Hogar SOCIMI, and Squirrel Media SA, you can compare the effects of market volatilities on Techo Hogar and Squirrel Media 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 Techo Hogar with a short position of Squirrel Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of Techo Hogar and Squirrel Media.
Diversification Opportunities for Techo Hogar and Squirrel Media
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Techo and Squirrel is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding Techo Hogar SOCIMI, and Squirrel Media SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Squirrel Media SA and Techo Hogar 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 Techo Hogar SOCIMI, are associated (or correlated) with Squirrel Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Squirrel Media SA has no effect on the direction of Techo Hogar i.e., Techo Hogar and Squirrel Media go up and down completely randomly.
Pair Corralation between Techo Hogar and Squirrel Media
Assuming the 90 days trading horizon Techo Hogar is expected to generate 1.65 times less return on investment than Squirrel Media. But when comparing it to its historical volatility, Techo Hogar SOCIMI, is 4.87 times less risky than Squirrel Media. It trades about 0.04 of its potential returns per unit of risk. Squirrel Media SA is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 215.00 in Squirrel Media SA on April 23, 2025 and sell it today you would earn a total of 1.00 from holding Squirrel Media SA or generate 0.47% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Techo Hogar SOCIMI, vs. Squirrel Media SA
Performance |
Timeline |
Techo Hogar SOCIMI, |
Squirrel Media SA |
Techo Hogar and Squirrel Media Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Techo Hogar and Squirrel Media
The main advantage of trading using opposite Techo Hogar and Squirrel Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Techo Hogar position performs unexpectedly, Squirrel Media 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 Squirrel Media will offset losses from the drop in Squirrel Media's long position.Techo Hogar vs. Media Investment Optimization | Techo Hogar vs. Hispanotels Inversiones SOCIMI | Techo Hogar vs. Home Capital Rentals | Techo Hogar vs. Azaria Rental SOCIMI |
Squirrel Media vs. Home Capital Rentals | Squirrel Media vs. All Iron Re | Squirrel Media vs. Caixabank SA | Squirrel Media vs. NH Hoteles |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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