Correlation Between SBF 120 and Cofidur SA
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By analyzing existing cross correlation between SBF 120 and Cofidur SA, you can compare the effects of market volatilities on SBF 120 and Cofidur 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 Cofidur SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Cofidur SA.
Diversification Opportunities for SBF 120 and Cofidur SA
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between SBF and Cofidur is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Cofidur SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cofidur 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 Cofidur SA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cofidur SA has no effect on the direction of SBF 120 i.e., SBF 120 and Cofidur SA go up and down completely randomly.
Pair Corralation between SBF 120 and Cofidur SA
Assuming the 90 days trading horizon SBF 120 is expected to generate 0.66 times more return on investment than Cofidur SA. However, SBF 120 is 1.51 times less risky than Cofidur SA. It trades about 0.38 of its potential returns per unit of risk. Cofidur SA is currently generating about -0.11 per unit of risk. If you would invest 566,578 in SBF 120 on November 10, 2024 and sell it today you would earn a total of 35,127 from holding SBF 120 or generate 6.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
SBF 120 vs. Cofidur SA
Performance |
| Timeline |
SBF 120 and Cofidur SA Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Cofidur SA
Pair trading matchups for Cofidur SA
Pair Trading with SBF 120 and Cofidur SA
The main advantage of trading using opposite SBF 120 and Cofidur SA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Cofidur 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 Cofidur SA will offset losses from the drop in Cofidur SA's long position.| SBF 120 vs. Fill Up Media | SBF 120 vs. Gaztransport Technigaz SAS | SBF 120 vs. Sartorius Stedim Biotech | SBF 120 vs. Fiducial Office Solutions |
| Cofidur SA vs. Passat Socit Anonyme | Cofidur SA vs. Groupe Guillin SA | Cofidur SA vs. Gevelot | Cofidur SA vs. DLSI |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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