Correlation Between SBF 120 and Fashion Bel
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By analyzing existing cross correlation between SBF 120 and Fashion Bel Air, you can compare the effects of market volatilities on SBF 120 and Fashion Bel 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 Fashion Bel. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Fashion Bel.
Diversification Opportunities for SBF 120 and Fashion Bel
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SBF and Fashion is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Fashion Bel Air in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fashion Bel Air 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 Fashion Bel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fashion Bel Air has no effect on the direction of SBF 120 i.e., SBF 120 and Fashion Bel go up and down completely randomly.
Pair Corralation between SBF 120 and Fashion Bel
Assuming the 90 days trading horizon SBF 120 is expected to under-perform the Fashion Bel. But the index apears to be less risky and, when comparing its historical volatility, SBF 120 is 19.99 times less risky than Fashion Bel. The index trades about 0.0 of its potential returns per unit of risk. The Fashion Bel Air is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 11.00 in Fashion Bel Air on August 27, 2024 and sell it today you would lose (8.15) from holding Fashion Bel Air or give up 74.09% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.6% |
| Values | Daily Returns |
SBF 120 vs. Fashion Bel Air
Performance |
| Timeline |
SBF 120 and Fashion Bel Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Fashion Bel Air
Pair trading matchups for Fashion Bel
Pair Trading with SBF 120 and Fashion Bel
The main advantage of trading using opposite SBF 120 and Fashion Bel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Fashion Bel 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 Fashion Bel will offset losses from the drop in Fashion Bel's long position.| SBF 120 vs. Soditech SA | SBF 120 vs. Jacquet Metal Service | SBF 120 vs. Guandao Puer Investment | SBF 120 vs. Metalliance SA |
| Fashion Bel vs. Mastrad | Fashion Bel vs. Logic Instrume | Fashion Bel vs. Barbara Bui SA | Fashion Bel vs. Agrogeneration |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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