Correlation Between FNP Technologies and SBF 120
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By analyzing existing cross correlation between FNP Technologies SA and SBF 120, you can compare the effects of market volatilities on FNP Technologies 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 FNP Technologies with a short position of SBF 120. Check out your portfolio center. Please also check ongoing floating volatility patterns of FNP Technologies and SBF 120.
Diversification Opportunities for FNP Technologies and SBF 120
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between FNP and SBF is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding FNP Technologies SA and SBF 120 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SBF 120 and FNP Technologies 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 FNP Technologies SA 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 FNP Technologies i.e., FNP Technologies and SBF 120 go up and down completely randomly.
Pair Corralation between FNP Technologies and SBF 120
Assuming the 90 days trading horizon FNP Technologies SA is expected to under-perform the SBF 120. In addition to that, FNP Technologies is 7.12 times more volatile than SBF 120. It trades about -0.03 of its total potential returns per unit of risk. SBF 120 is currently generating about 0.02 per unit of volatility. If you would invest 552,216 in SBF 120 on November 4, 2024 and sell it today you would earn a total of 47,956 from holding SBF 120 or generate 8.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 94.43% |
| Values | Daily Returns |
FNP Technologies SA vs. SBF 120
Performance |
| Timeline |
FNP Technologies and SBF 120 Volatility Contrast
Predicted Return Density |
| Returns |
FNP Technologies SA
Pair trading matchups for FNP Technologies
SBF 120
Pair trading matchups for SBF 120
Pair Trading with FNP Technologies and SBF 120
The main advantage of trading using opposite FNP Technologies and SBF 120 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FNP Technologies 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.| FNP Technologies vs. Exail Technologies SA | FNP Technologies vs. Fill Up Media | FNP Technologies vs. Kaufman Et Broad | FNP Technologies vs. Invibes Advertising NV |
| SBF 120 vs. Innelec Multimedia | SBF 120 vs. Gaztransport Technigaz SAS | SBF 120 vs. Hitechpros | SBF 120 vs. Linedata Services 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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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