Correlation Between SBF 120 and Crossject
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By analyzing existing cross correlation between SBF 120 and Crossject, you can compare the effects of market volatilities on SBF 120 and Crossject 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 Crossject. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Crossject.
Diversification Opportunities for SBF 120 and Crossject
Poor diversification
The 3 months correlation between SBF and Crossject is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Crossject in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Crossject 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 Crossject. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Crossject has no effect on the direction of SBF 120 i.e., SBF 120 and Crossject go up and down completely randomly.
Pair Corralation between SBF 120 and Crossject
Assuming the 90 days trading horizon SBF 120 is expected to generate 0.27 times more return on investment than Crossject. However, SBF 120 is 3.67 times less risky than Crossject. It trades about -0.24 of its potential returns per unit of risk. Crossject is currently generating about -0.14 per unit of risk. If you would invest 569,317 in SBF 120 on August 30, 2024 and sell it today you would lose (27,302) from holding SBF 120 or give up 4.8% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SBF 120 vs. Crossject
Performance |
| Timeline |
SBF 120 and Crossject Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Crossject
Pair trading matchups for Crossject
Pair Trading with SBF 120 and Crossject
The main advantage of trading using opposite SBF 120 and Crossject positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Crossject 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 Crossject will offset losses from the drop in Crossject's long position.| SBF 120 vs. Novatech Industries SA | SBF 120 vs. FNP Technologies SA | SBF 120 vs. Impulse Fitness Solutions | SBF 120 vs. Union Technologies Informatique |
| Crossject vs. Quantum Genomics SA | Crossject vs. Biophytis SA | Crossject vs. Biosynex | Crossject vs. Poxel 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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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