Correlation Between Samse SA and Figeac Aero
Can any of the company-specific risk be diversified away by investing in both Samse SA and Figeac Aero 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 Samse SA and Figeac Aero into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Samse SA and Figeac Aero SA, you can compare the effects of market volatilities on Samse SA and Figeac Aero 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 Samse SA with a short position of Figeac Aero. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samse SA and Figeac Aero.
Diversification Opportunities for Samse SA and Figeac Aero
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between Samse and Figeac is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Samse SA and Figeac Aero SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Figeac Aero SA and Samse SA 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 Samse SA are associated (or correlated) with Figeac Aero. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Figeac Aero SA has no effect on the direction of Samse SA i.e., Samse SA and Figeac Aero go up and down completely randomly.
Pair Corralation between Samse SA and Figeac Aero
Assuming the 90 days trading horizon Samse SA is expected to under-perform the Figeac Aero. In addition to that, Samse SA is 1.06 times more volatile than Figeac Aero SA. It trades about -0.13 of its total potential returns per unit of risk. Figeac Aero SA is currently generating about 0.07 per unit of volatility. If you would invest 572.00 in Figeac Aero SA on September 22, 2024 and sell it today you would earn a total of 24.00 from holding Figeac Aero SA or generate 4.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 97.78% |
| Values | Daily Returns |
Samse SA vs. Figeac Aero SA
Performance |
| Timeline |
| Samse SA |
| Figeac Aero SA |
Samse SA and Figeac Aero Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Samse SA and Figeac Aero
The main advantage of trading using opposite Samse SA and Figeac Aero positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samse SA position performs unexpectedly, Figeac Aero 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 Figeac Aero will offset losses from the drop in Figeac Aero's long position.| Samse SA vs. ATEME SA | Samse SA vs. Figeac Aero SA | Samse SA vs. Chargeurs SA | Samse SA vs. Xilam Animation |
| Figeac Aero vs. Thermador Groupe SA | Figeac Aero vs. Rubis SCA | Figeac Aero vs. Vicat SA | Figeac Aero vs. Trigano 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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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