Correlation Analysis Between GRUPO HERDEZ and Alibaba Group

This module allows you to analyze existing cross correlation between GRUPO HERDEZ SAB DE CV and Alibaba Group Holding Limited. You can compare the effects of market volatilities on GRUPO HERDEZ and Alibaba Group 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 HERDEZ with a short position of Alibaba Group. See also your portfolio center. Please also check ongoing floating volatility patterns of GRUPO HERDEZ and Alibaba Group.
Horizon     30 Days    Login   to change
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Comparative Performance

GRUPO HERDEZ SAB  
00

Risk-Adjusted Performance

Over the last 30 days GRUPO HERDEZ SAB DE CV has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, GRUPO HERDEZ is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.
Alibaba Group Holding  
77

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Alibaba Group Holding Limited are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days. Despite somewhat unsteady basic indicators, Alibaba Group may actually be approaching a critical reversion point that can send shares even higher in December 2019.

GRUPO HERDEZ and Alibaba Group Volatility Contrast

GRUPO HERDEZ SAB DE CV  vs.  Alibaba Group Holding Limited

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  16,590  in Alibaba Group Holding Limited on October 23, 2019 and sell it today you would earn a total of  1,896  from holding Alibaba Group Holding Limited or generate 11.43% return on investment over 30 days.

Pair Corralation between GRUPO HERDEZ and Alibaba Group

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Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for GRUPO HERDEZ and Alibaba Group

GRUPO HERDEZ SAB DE CV diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding GRUPO HERDEZ SAB DE CV and Alibaba Group Holding Limited in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Alibaba Group Holding and GRUPO HERDEZ 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 HERDEZ SAB DE CV are associated (or correlated) with Alibaba Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Alibaba Group Holding has no effect on the direction of GRUPO HERDEZ i.e. GRUPO HERDEZ and Alibaba Group go up and down completely randomly.

Alibaba Group Holding Limited

Pair trading matchups for Alibaba Group

See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.


 
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