Correlation Between Groupe Pizzorno and SBF 120
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By analyzing existing cross correlation between Groupe Pizzorno Environnement and SBF 120, you can compare the effects of market volatilities on Groupe Pizzorno 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 Groupe Pizzorno with a short position of SBF 120. Check out your portfolio center. Please also check ongoing floating volatility patterns of Groupe Pizzorno and SBF 120.
Diversification Opportunities for Groupe Pizzorno and SBF 120
-0.54 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Groupe and SBF is -0.54. Overlapping area represents the amount of risk that can be diversified away by holding Groupe Pizzorno Environnement and SBF 120 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SBF 120 and Groupe Pizzorno 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 Groupe Pizzorno Environnement 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 Groupe Pizzorno i.e., Groupe Pizzorno and SBF 120 go up and down completely randomly.
Pair Corralation between Groupe Pizzorno and SBF 120
Assuming the 90 days trading horizon Groupe Pizzorno Environnement is expected to under-perform the SBF 120. In addition to that, Groupe Pizzorno is 2.18 times more volatile than SBF 120. It trades about -0.16 of its total potential returns per unit of risk. SBF 120 is currently generating about 0.09 per unit of volatility. If you would invest 554,840 in SBF 120 on September 15, 2024 and sell it today you would earn a total of 6,532 from holding SBF 120 or generate 1.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Groupe Pizzorno Environnement vs. SBF 120
Performance |
| Timeline |
Groupe Pizzorno and SBF 120 Volatility Contrast
Predicted Return Density |
| Returns |
Groupe Pizzorno Environnement
Pair trading matchups for Groupe Pizzorno
SBF 120
Pair trading matchups for SBF 120
Pair Trading with Groupe Pizzorno and SBF 120
The main advantage of trading using opposite Groupe Pizzorno and SBF 120 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Groupe Pizzorno 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.| Groupe Pizzorno vs. Aurea SA | Groupe Pizzorno vs. Seche Environnem | Groupe Pizzorno vs. Derichebourg | Groupe Pizzorno vs. Jacquet Metal Service |
| SBF 120 vs. CMG Cleantech SA | SBF 120 vs. Covivio Hotels | SBF 120 vs. Onlineformapro SA | SBF 120 vs. ZCCM Investments Holdings |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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