Correlation Between Sabre Corpo and PFIZER

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Can any of the company-specific risk be diversified away by investing in both Sabre Corpo and PFIZER 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 Sabre Corpo and PFIZER into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sabre Corpo and PFIZER INC 4125, you can compare the effects of market volatilities on Sabre Corpo and PFIZER 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 Sabre Corpo with a short position of PFIZER. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sabre Corpo and PFIZER.

Diversification Opportunities for Sabre Corpo and PFIZER

-0.18
  Correlation Coefficient

Good diversification

The 3 months correlation between Sabre and PFIZER is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Sabre Corpo and PFIZER INC 4125 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PFIZER INC 4125 and Sabre Corpo 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 Sabre Corpo are associated (or correlated) with PFIZER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PFIZER INC 4125 has no effect on the direction of Sabre Corpo i.e., Sabre Corpo and PFIZER go up and down completely randomly.

Pair Corralation between Sabre Corpo and PFIZER

Given the investment horizon of 90 days Sabre Corpo is expected to generate 3.09 times more return on investment than PFIZER. However, Sabre Corpo is 3.09 times more volatile than PFIZER INC 4125. It trades about 0.01 of its potential returns per unit of risk. PFIZER INC 4125 is currently generating about -0.02 per unit of risk. If you would invest  425.00  in Sabre Corpo on September 12, 2024 and sell it today you would lose (33.00) from holding Sabre Corpo or give up 7.76% of portfolio value over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthInsignificant
Accuracy94.35%
ValuesDaily Returns

Sabre Corpo  vs.  PFIZER INC 4125

 Performance 
       Timeline  
Sabre Corpo 

Risk-Adjusted Performance

9 of 100

 
Weak
 
Strong
OK
Compared to the overall equity markets, risk-adjusted returns on investments in Sabre Corpo are ranked lower than 9 (%) of all global equities and portfolios over the last 90 days. Even with relatively weak fundamental drivers, Sabre Corpo reported solid returns over the last few months and may actually be approaching a breakup point.
PFIZER INC 4125 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days PFIZER INC 4125 has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, PFIZER is not utilizing all of its potentials. The latest stock price disturbance, may contribute to short-term losses for the investors.

Sabre Corpo and PFIZER Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Sabre Corpo and PFIZER

The main advantage of trading using opposite Sabre Corpo and PFIZER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sabre Corpo position performs unexpectedly, PFIZER 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 PFIZER will offset losses from the drop in PFIZER's long position.
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The idea behind Sabre Corpo and PFIZER INC 4125 pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.

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