Correlation Between Jacquet Metal and SBF 120
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By analyzing existing cross correlation between Jacquet Metal Service and SBF 120, you can compare the effects of market volatilities on Jacquet Metal 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 Jacquet Metal with a short position of SBF 120. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jacquet Metal and SBF 120.
Diversification Opportunities for Jacquet Metal and SBF 120
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Jacquet and SBF is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding Jacquet Metal Service and SBF 120 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SBF 120 and Jacquet Metal 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 Jacquet Metal Service 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 Jacquet Metal i.e., Jacquet Metal and SBF 120 go up and down completely randomly.
Pair Corralation between Jacquet Metal and SBF 120
Assuming the 90 days trading horizon Jacquet Metal Service is expected to under-perform the SBF 120. In addition to that, Jacquet Metal is 1.69 times more volatile than SBF 120. It trades about -0.11 of its total potential returns per unit of risk. SBF 120 is currently generating about -0.16 per unit of volatility. If you would invest 568,263 in SBF 120 on August 26, 2024 and sell it today you would lose (18,104) from holding SBF 120 or give up 3.19% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jacquet Metal Service vs. SBF 120
Performance |
| Timeline |
Jacquet Metal and SBF 120 Volatility Contrast
Predicted Return Density |
| Returns |
Jacquet Metal Service
Pair trading matchups for Jacquet Metal
SBF 120
Pair trading matchups for SBF 120
Pair Trading with Jacquet Metal and SBF 120
The main advantage of trading using opposite Jacquet Metal and SBF 120 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jacquet Metal 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.| Jacquet Metal vs. Prodways Group SA | Jacquet Metal vs. Claranova SE | Jacquet Metal vs. DBV Technologies SA | Jacquet Metal vs. Manitou BF SA |
| SBF 120 vs. Soditech SA | SBF 120 vs. Jacquet Metal Service | SBF 120 vs. Guandao Puer Investment | SBF 120 vs. Metalliance 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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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