Correlation Between Invibes Advertising and SBF 120
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By analyzing existing cross correlation between Invibes Advertising NV and SBF 120, you can compare the effects of market volatilities on Invibes Advertising and SBF 120 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 Invibes Advertising with a short position of SBF 120. Check out your portfolio center. Please also check ongoing floating volatility patterns of Invibes Advertising and SBF 120.
Diversification Opportunities for Invibes Advertising and SBF 120
-0.56 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Invibes and SBF is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding Invibes Advertising NV and SBF 120 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SBF 120 and Invibes Advertising 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 Invibes Advertising NV are associated (or correlated) with SBF 120. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SBF 120 has no effect on the direction of Invibes Advertising i.e., Invibes Advertising and SBF 120 go up and down completely randomly.
Pair Corralation between Invibes Advertising and SBF 120
Assuming the 90 days trading horizon Invibes Advertising NV is expected to under-perform the SBF 120. In addition to that, Invibes Advertising is 7.78 times more volatile than SBF 120. It trades about -0.13 of its total potential returns per unit of risk. SBF 120 is currently generating about 0.38 per unit of volatility. If you would invest 560,158 in SBF 120 on November 3, 2024 and sell it today you would earn a total of 40,014 from holding SBF 120 or generate 7.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Invibes Advertising NV vs. SBF 120
Performance |
| Timeline |
Invibes Advertising and SBF 120 Volatility Contrast
Predicted Return Density |
| Returns |
Invibes Advertising NV
Pair trading matchups for Invibes Advertising
SBF 120
Pair trading matchups for SBF 120
Pair Trading with Invibes Advertising and SBF 120
The main advantage of trading using opposite Invibes Advertising and SBF 120 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Invibes Advertising position performs unexpectedly, SBF 120 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 SBF 120 will offset losses from the drop in SBF 120's long position.| Invibes Advertising vs. Streamwide | Invibes Advertising vs. Claranova SE | Invibes Advertising vs. SA Catana Group | Invibes Advertising vs. Wallix Group SA |
| SBF 120 vs. ZCCM Investments Holdings | SBF 120 vs. Eutelsat Communications SA | SBF 120 vs. Exail Technologies SA | SBF 120 vs. Soditech SA |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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