Correlation Between SBF 120 and Delfingen
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By analyzing existing cross correlation between SBF 120 and Delfingen, you can compare the effects of market volatilities on SBF 120 and Delfingen 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 Delfingen. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Delfingen.
Diversification Opportunities for SBF 120 and Delfingen
Very weak diversification
The 3 months correlation between SBF and Delfingen is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Delfingen in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Delfingen 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 Delfingen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Delfingen has no effect on the direction of SBF 120 i.e., SBF 120 and Delfingen go up and down completely randomly.
Pair Corralation between SBF 120 and Delfingen
Assuming the 90 days trading horizon SBF 120 is expected to generate 0.32 times more return on investment than Delfingen. However, SBF 120 is 3.13 times less risky than Delfingen. It trades about -0.03 of its potential returns per unit of risk. Delfingen is currently generating about -0.22 per unit of risk. If you would invest 575,615 in SBF 120 on August 29, 2024 and sell it today you would lose (29,818) from holding SBF 120 or give up 5.18% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.53% |
| Values | Daily Returns |
SBF 120 vs. Delfingen
Performance |
| Timeline |
SBF 120 and Delfingen Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Delfingen
Pair trading matchups for Delfingen
Pair Trading with SBF 120 and Delfingen
The main advantage of trading using opposite SBF 120 and Delfingen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Delfingen 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 Delfingen will offset losses from the drop in Delfingen's long position.| SBF 120 vs. Linedata Services SA | SBF 120 vs. Mauna Kea Technologies | SBF 120 vs. Eutelsat Communications SA | SBF 120 vs. ZCCM Investments Holdings |
| Delfingen vs. Akwel SA | Delfingen vs. Groupe Guillin SA | Delfingen vs. Burelle SA | Delfingen vs. SA Catana Group |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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