Correlation Between Grupo Televisa and Blonder Tongue

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Can any of the company-specific risk be diversified away by investing in both Grupo Televisa and Blonder Tongue 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 Grupo Televisa and Blonder Tongue into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Grupo Televisa SAB and Blonder Tongue Laboratories, you can compare the effects of market volatilities on Grupo Televisa and Blonder Tongue 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 Televisa with a short position of Blonder Tongue. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grupo Televisa and Blonder Tongue.

Diversification Opportunities for Grupo Televisa and Blonder Tongue

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  Correlation Coefficient

Pay attention - limited upside

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

Pair Corralation between Grupo Televisa and Blonder Tongue

If you would invest  285.00  in Grupo Televisa SAB on March 6, 2024 and sell it today you would earn a total of  18.00  from holding Grupo Televisa SAB or generate 6.32% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Grupo Televisa SAB  vs.  Blonder Tongue Laboratories

 Performance 
       Timeline  
Grupo Televisa SAB 

Risk-Adjusted Performance

3 of 100

 
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Strong
Insignificant
Compared to the overall equity markets, risk-adjusted returns on investments in Grupo Televisa SAB are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. In spite of fairly weak basic indicators, Grupo Televisa may actually be approaching a critical reversion point that can send shares even higher in July 2024.
Blonder Tongue Labor 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days Blonder Tongue Laboratories has generated negative risk-adjusted returns adding no value to investors with long positions. Even with relatively invariable fundamental indicators, Blonder Tongue is not utilizing all of its potentials. The current stock price agitation, may contribute to short-term losses for the retail investors.

Grupo Televisa and Blonder Tongue Volatility Contrast

   Predicted Return Density   
       Returns  
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