Correlation Between SBF 120 and Granite 3x
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By analyzing existing cross correlation between SBF 120 and Granite 3x MRNA, you can compare the effects of market volatilities on SBF 120 and Granite 3x 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 SBF 120 with a short position of Granite 3x. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Granite 3x.
Diversification Opportunities for SBF 120 and Granite 3x
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SBF and Granite is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Granite 3x MRNA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Granite 3x MRNA and SBF 120 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 SBF 120 are associated (or correlated) with Granite 3x. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Granite 3x MRNA has no effect on the direction of SBF 120 i.e., SBF 120 and Granite 3x go up and down completely randomly.
Pair Corralation between SBF 120 and Granite 3x
If you would invest (100.00) in Granite 3x MRNA on September 4, 2024 and sell it today you would earn a total of 100.00 from holding Granite 3x MRNA or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
SBF 120 vs. Granite 3x MRNA
Performance |
| Timeline |
SBF 120 and Granite 3x Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Pair Trading with SBF 120 and Granite 3x
The main advantage of trading using opposite SBF 120 and Granite 3x positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Granite 3x 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 Granite 3x will offset losses from the drop in Granite 3x's long position.| SBF 120 vs. Credit Agricole SA | SBF 120 vs. Entech SE SAS | SBF 120 vs. Lexibook Linguistic Electronic | SBF 120 vs. Gaztransport Technigaz SAS |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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