Correlation Between Hoteles Bestprice and SBF 120
Specify exactly 2 symbols:
By analyzing existing cross correlation between Hoteles Bestprice SA and SBF 120, you can compare the effects of market volatilities on Hoteles Bestprice 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 Hoteles Bestprice with a short position of SBF 120. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hoteles Bestprice and SBF 120.
Diversification Opportunities for Hoteles Bestprice and SBF 120
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Hoteles and SBF is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Hoteles Bestprice SA and SBF 120 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SBF 120 and Hoteles Bestprice 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 Hoteles Bestprice 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 Hoteles Bestprice i.e., Hoteles Bestprice and SBF 120 go up and down completely randomly.
Pair Corralation between Hoteles Bestprice and SBF 120
If you would invest 560,158 in SBF 120 on November 3, 2024 and sell it today you would earn a total of 40,014 from holding SBF 120 or generate 7.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hoteles Bestprice SA vs. SBF 120
Performance |
| Timeline |
Hoteles Bestprice and SBF 120 Volatility Contrast
Predicted Return Density |
| Returns |
Hoteles Bestprice SA
Pair trading matchups for Hoteles Bestprice
SBF 120
Pair trading matchups for SBF 120
Pair Trading with Hoteles Bestprice and SBF 120
The main advantage of trading using opposite Hoteles Bestprice and SBF 120 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hoteles Bestprice 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.| Hoteles Bestprice vs. Accor S A | Hoteles Bestprice vs. Pierre et Vacances | Hoteles Bestprice vs. Ferm Casino Mun | Hoteles Bestprice vs. Hotel Majestic Cannes |
| SBF 120 vs. ZCCM Investments Holdings | SBF 120 vs. Eutelsat Communications SA | SBF 120 vs. Exail Technologies SA | SBF 120 vs. Soditech 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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Other Complementary Tools
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities |