# Correlation Between ACCIONES APM and ASCENDO INVERSIONES

By analyzing existing cross correlation between ACCIONES APM 2001 and ASCENDO INVERSIONES SICAV you can compare the effects of market volatilities on ACCIONES APM 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 ACCIONES APM with a short position of ASCENDO INVERSIONES. Check out your portfolio center. Please also check ongoing floating volatility patterns of ACCIONES APM and ASCENDO INVERSIONES.

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Can any of the company-specific risk be diversified away by investing in both ACCIONES APM 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 ACCIONES APM and ASCENDO INVERSIONES into the same portfolio which is an essential part of fundamental portfolio management process.

## Diversification Opportunities for ACCIONES APM and ASCENDO INVERSIONES

 0 Correlation AAAI

### Pay attention - limited upside

The 3 months correlation between ACCIONES and ASCENDO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ACCIONES APM 2001 SICAV S A 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 ACCIONES APM 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 ACCIONES APM 2001 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 ACCIONES APM i.e. ACCIONES APM and ASCENDO INVERSIONES go up and down completely randomly.

## Pair Corralation between ACCIONES APM 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 Period 3 Months [change] Direction Flat Strength Insignificant Accuracy 0.0% Values Daily Returns

## ACCIONES APM 2001 SICAV S A  vs.  ASCENDO INVERSIONES SICAV

 Performance (%)
 Timeline
 ACCIONES APM 2001 Correlation Profile

Over the last 30 days ACCIONES APM 2001 has generated negative risk-adjusted returns adding no value to fund investors. Even with considerably steady technical indicators, ACCIONES APM is not utilizing all of its potentials. The current stock price chaos, may contribute to medium term losses for the stakeholders.
 ASCENDO INVERSIONES SICAV Correlation Profile

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.
 Performance Backtest Predict

## ASCENDO INVERSIONES SICAV

### Pair trading matchups for ASCENDO INVERSIONES

Check out your portfolio center. Please also try Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.

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