Correlation Between SBF 120 and Exacompta Clairefontaine
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By analyzing existing cross correlation between SBF 120 and Exacompta Clairefontaine, you can compare the effects of market volatilities on SBF 120 and Exacompta Clairefontaine 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 Exacompta Clairefontaine. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Exacompta Clairefontaine.
Diversification Opportunities for SBF 120 and Exacompta Clairefontaine
-0.71 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SBF and Exacompta is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Exacompta Clairefontaine in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Exacompta Clairefontaine 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 Exacompta Clairefontaine. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exacompta Clairefontaine has no effect on the direction of SBF 120 i.e., SBF 120 and Exacompta Clairefontaine go up and down completely randomly.
Pair Corralation between SBF 120 and Exacompta Clairefontaine
Assuming the 90 days trading horizon SBF 120 is expected to generate 5.81 times less return on investment than Exacompta Clairefontaine. But when comparing it to its historical volatility, SBF 120 is 2.52 times less risky than Exacompta Clairefontaine. It trades about 0.02 of its potential returns per unit of risk. Exacompta Clairefontaine is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 11,145 in Exacompta Clairefontaine on September 4, 2024 and sell it today you would earn a total of 4,155 from holding Exacompta Clairefontaine or generate 37.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 94.44% |
| Values | Daily Returns |
SBF 120 vs. Exacompta Clairefontaine
Performance |
| Timeline |
SBF 120 and Exacompta Clairefontaine Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Exacompta Clairefontaine
Pair trading matchups for Exacompta Clairefontaine
Pair Trading with SBF 120 and Exacompta Clairefontaine
The main advantage of trading using opposite SBF 120 and Exacompta Clairefontaine positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Exacompta Clairefontaine 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 Exacompta Clairefontaine will offset losses from the drop in Exacompta Clairefontaine'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 |
| Exacompta Clairefontaine vs. Signaux Girod | Exacompta Clairefontaine vs. Passat Socit Anonyme | Exacompta Clairefontaine vs. Herige SA | Exacompta Clairefontaine vs. Groupe Partouche 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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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