Correlation Between Synchrony Swiss and BCV Swiss
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By analyzing existing cross correlation between Synchrony Swiss Real and BCV Swiss Franc, you can compare the effects of market volatilities on Synchrony Swiss and BCV Swiss 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 Synchrony Swiss with a short position of BCV Swiss. Check out your portfolio center. Please also check ongoing floating volatility patterns of Synchrony Swiss and BCV Swiss.
Diversification Opportunities for Synchrony Swiss and BCV Swiss
0.8 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Synchrony and BCV is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding Synchrony Swiss Real and BCV Swiss Franc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BCV Swiss Franc and Synchrony Swiss 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 Synchrony Swiss Real are associated (or correlated) with BCV Swiss. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BCV Swiss Franc has no effect on the direction of Synchrony Swiss i.e., Synchrony Swiss and BCV Swiss go up and down completely randomly.
Pair Corralation between Synchrony Swiss and BCV Swiss
Assuming the 90 days trading horizon Synchrony Swiss Real is expected to generate 3.78 times more return on investment than BCV Swiss. However, Synchrony Swiss is 3.78 times more volatile than BCV Swiss Franc. It trades about 0.42 of its potential returns per unit of risk. BCV Swiss Franc is currently generating about 0.24 per unit of risk. If you would invest 11,821 in Synchrony Swiss Real on September 22, 2024 and sell it today you would earn a total of 501.00 from holding Synchrony Swiss Real or generate 4.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Synchrony Swiss Real vs. BCV Swiss Franc
Performance |
| Timeline |
| Synchrony Swiss Real |
| BCV Swiss Franc |
Synchrony Swiss and BCV Swiss Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Synchrony Swiss and BCV Swiss
The main advantage of trading using opposite Synchrony Swiss and BCV Swiss positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Synchrony Swiss position performs unexpectedly, BCV Swiss 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 BCV Swiss will offset losses from the drop in BCV Swiss' long position.| Synchrony Swiss vs. CSIF III Eq | Synchrony Swiss vs. UBS Property | Synchrony Swiss vs. Procimmo Real Estate | Synchrony Swiss vs. Baloise Holding AG |
| BCV Swiss vs. CSIF III Eq | BCV Swiss vs. UBS Property | BCV Swiss vs. Procimmo Real Estate | BCV Swiss vs. Baloise Holding AG |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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