Correlation Between Boeing and SASOL
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By analyzing existing cross correlation between The Boeing and SASOL FING USA, you can compare the effects of market volatilities on Boeing and SASOL 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 Boeing with a short position of SASOL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Boeing and SASOL.
Diversification Opportunities for Boeing and SASOL
Very good diversification
The 3 months correlation between Boeing and SASOL is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding The Boeing and SASOL FING USA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SASOL FING USA and Boeing 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 The Boeing are associated (or correlated) with SASOL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SASOL FING USA has no effect on the direction of Boeing i.e., Boeing and SASOL go up and down completely randomly.
Pair Corralation between Boeing and SASOL
Allowing for the 90-day total investment horizon Boeing is expected to generate 25.0 times less return on investment than SASOL. But when comparing it to its historical volatility, The Boeing is 1.09 times less risky than SASOL. It trades about 0.01 of its potential returns per unit of risk. SASOL FING USA is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest 9,421 in SASOL FING USA on November 1, 2024 and sell it today you would earn a total of 670.00 from holding SASOL FING USA or generate 7.11% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
The Boeing vs. SASOL FING USA
Performance |
| Timeline |
| Boeing |
| SASOL FING USA |
Boeing and SASOL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Boeing and SASOL
The main advantage of trading using opposite Boeing and SASOL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Boeing position performs unexpectedly, SASOL 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 SASOL will offset losses from the drop in SASOL's long position.| Boeing vs. Sidus Space | Boeing vs. Planet Labs PBC | Boeing vs. Intuitive Machines | Boeing vs. Rocket Lab USA |
| SASOL vs. Summit Materials | SASOL vs. Cheche Group Class | SASOL vs. Old Dominion Freight | SASOL vs. Bankwell Financial Group |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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