Correlation Between SBF 120 and Abivax SA
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By analyzing existing cross correlation between SBF 120 and Abivax SA, you can compare the effects of market volatilities on SBF 120 and Abivax SA 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 Abivax SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Abivax SA.
Diversification Opportunities for SBF 120 and Abivax SA
Weak diversification
The 3 months correlation between SBF and Abivax is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Abivax SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Abivax SA 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 Abivax SA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Abivax SA has no effect on the direction of SBF 120 i.e., SBF 120 and Abivax SA go up and down completely randomly.
Pair Corralation between SBF 120 and Abivax SA
Assuming the 90 days trading horizon SBF 120 is expected to generate 0.29 times more return on investment than Abivax SA. However, SBF 120 is 3.47 times less risky than Abivax SA. It trades about -0.01 of its potential returns per unit of risk. Abivax SA is currently generating about -0.01 per unit of risk. If you would invest 555,661 in SBF 120 on August 29, 2024 and sell it today you would lose (9,864) from holding SBF 120 or give up 1.78% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.6% |
| Values | Daily Returns |
SBF 120 vs. Abivax SA
Performance |
| Timeline |
SBF 120 and Abivax SA Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Abivax SA
Pair trading matchups for Abivax SA
Pair Trading with SBF 120 and Abivax SA
The main advantage of trading using opposite SBF 120 and Abivax SA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Abivax SA 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 Abivax SA will offset losses from the drop in Abivax SA's long position.| SBF 120 vs. ZCCM Investments Holdings | SBF 120 vs. Les Hotels Bav | SBF 120 vs. X Fab Silicon | SBF 120 vs. CMG Cleantech SA |
| Abivax SA vs. Biomerieux SA | Abivax SA vs. Eurofins Scientific SE | Abivax SA vs. Sartorius Stedim Biotech | Abivax SA vs. SEB 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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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