Correlation Between CAIXABANK GESTI and ASCENDO INVERSIONES

By analyzing existing cross correlation between CAIXABANK GESTI N and ASCENDO INVERSIONES SICAV you can compare the effects of market volatilities on CAIXABANK GESTI and ASCENDO INVERSIONES 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 CAIXABANK GESTI with a short position of ASCENDO INVERSIONES. Check out your portfolio center. Please also check ongoing floating volatility patterns of CAIXABANK GESTI and ASCENDO INVERSIONES.

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Can any of the company-specific risk be diversified away by investing in both CAIXABANK GESTI and ASCENDO INVERSIONES at the same time? Although using correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combing CAIXABANK GESTI and ASCENDO INVERSIONES into the same portfolio which is an essential part of fundamental portfolio management process.

Diversification Opportunities for CAIXABANK GESTI and ASCENDO INVERSIONES

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Correlation
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Pay attention - limited upside

The 3 months correlation between CAIXABANK and ASCENDO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CAIXABANK GESTI N TOTAL PLATIN and ASCENDO INVERSIONES SICAV in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ASCENDO INVERSIONES SICAV and CAIXABANK GESTI 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 CAIXABANK GESTI N are associated (or correlated) with ASCENDO INVERSIONES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ASCENDO INVERSIONES SICAV has no effect on the direction of CAIXABANK GESTI i.e. CAIXABANK GESTI and ASCENDO INVERSIONES go up and down completely randomly.

Pair Corralation between CAIXABANK GESTI and ASCENDO INVERSIONES

If you would invest  106.00  in ASCENDO INVERSIONES SICAV on April 24, 2020 and sell it today you would lose (12.83)  from holding ASCENDO INVERSIONES SICAV or give up 12.1% of portfolio value over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy1.89%
ValuesDaily Returns

CAIXABANK GESTI N TOTAL PLATIN  vs.  ASCENDO INVERSIONES SICAV

 Performance (%) 
      Timeline 
CAIXABANK GESTI N 
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Risk-Adjusted Fund Performance

Over the last 30 days CAIXABANK GESTI N has generated negative risk-adjusted returns adding no value to fund investors. Despite somewhat strong basic indicators, CAIXABANK GESTI is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
ASCENDO INVERSIONES SICAV 
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Risk-Adjusted Fund Performance

Over the last 30 days ASCENDO INVERSIONES SICAV has generated negative risk-adjusted returns adding no value to fund investors. Even with considerably steady technical indicators, ASCENDO INVERSIONES is not utilizing all of its potentials. The current stock price chaos, may contribute to medium term losses for the stakeholders.

CAIXABANK GESTI and ASCENDO INVERSIONES Volatility Contrast

 Predicted Return Density 
      Returns 
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