Correlation Between Figeac Aero and Samse SA
Can any of the company-specific risk be diversified away by investing in both Figeac Aero and Samse SA 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 Figeac Aero and Samse SA into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Figeac Aero SA and Samse SA, you can compare the effects of market volatilities on Figeac Aero and Samse SA 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 Figeac Aero with a short position of Samse SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Figeac Aero and Samse SA.
Diversification Opportunities for Figeac Aero and Samse SA
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Figeac and Samse is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Figeac Aero SA and Samse SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Samse SA and Figeac Aero 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 Figeac Aero SA are associated (or correlated) with Samse SA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Samse SA has no effect on the direction of Figeac Aero i.e., Figeac Aero and Samse SA go up and down completely randomly.
Pair Corralation between Figeac Aero and Samse SA
Assuming the 90 days trading horizon Figeac Aero SA is expected to generate 0.92 times more return on investment than Samse SA. However, Figeac Aero SA is 1.09 times less risky than Samse SA. It trades about 0.08 of its potential returns per unit of risk. Samse SA is currently generating about -0.03 per unit of risk. If you would invest 578.00 in Figeac Aero SA on September 22, 2024 and sell it today you would earn a total of 18.00 from holding Figeac Aero SA or generate 3.11% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Figeac Aero SA vs. Samse SA
Performance |
| Timeline |
| Figeac Aero SA |
| Samse SA |
Figeac Aero and Samse SA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Figeac Aero and Samse SA
The main advantage of trading using opposite Figeac Aero and Samse SA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Figeac Aero position performs unexpectedly, Samse SA 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 Samse SA will offset losses from the drop in Samse SA's long position.| Figeac Aero vs. Thermador Groupe SA | Figeac Aero vs. Samse SA | Figeac Aero vs. Rubis SCA | Figeac Aero vs. Trigano SA |
| Samse SA vs. ATEME SA | Samse SA vs. Figeac Aero SA | Samse SA vs. Chargeurs SA | Samse SA vs. Xilam Animation |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Other Complementary Tools
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments |