Correlation Between SBF 120 and Cibox Interctive
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By analyzing existing cross correlation between SBF 120 and Cibox Interctive SA, you can compare the effects of market volatilities on SBF 120 and Cibox Interctive 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 Cibox Interctive. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Cibox Interctive.
Diversification Opportunities for SBF 120 and Cibox Interctive
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between SBF and Cibox is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Cibox Interctive SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cibox Interctive 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 Cibox Interctive. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cibox Interctive has no effect on the direction of SBF 120 i.e., SBF 120 and Cibox Interctive go up and down completely randomly.
Pair Corralation between SBF 120 and Cibox Interctive
Assuming the 90 days trading horizon SBF 120 is expected to generate 11.79 times less return on investment than Cibox Interctive. But when comparing it to its historical volatility, SBF 120 is 11.47 times less risky than Cibox Interctive. It trades about 0.02 of its potential returns per unit of risk. Cibox Interctive SA is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 6.64 in Cibox Interctive SA on September 4, 2024 and sell it today you would lose (3.18) from holding Cibox Interctive SA or give up 47.89% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
SBF 120 vs. Cibox Interctive SA
Performance |
| Timeline |
SBF 120 and Cibox Interctive Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Cibox Interctive SA
Pair trading matchups for Cibox Interctive
Pair Trading with SBF 120 and Cibox Interctive
The main advantage of trading using opposite SBF 120 and Cibox Interctive positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Cibox Interctive 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 Cibox Interctive will offset losses from the drop in Cibox Interctive'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 |
| Cibox Interctive vs. Jacquet Metal Service | Cibox Interctive vs. Gaztransport Technigaz SAS | Cibox Interctive vs. Linedata Services SA | Cibox Interctive vs. Les Hotels Bav |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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