Correlation Between SBF 120 and Fill Up
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By analyzing existing cross correlation between SBF 120 and Fill Up Media, you can compare the effects of market volatilities on SBF 120 and Fill Up 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 Fill Up. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Fill Up.
Diversification Opportunities for SBF 120 and Fill Up
Modest diversification
The 3 months correlation between SBF and Fill is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Fill Up Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fill Up Media 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 Fill Up. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fill Up Media has no effect on the direction of SBF 120 i.e., SBF 120 and Fill Up go up and down completely randomly.
Pair Corralation between SBF 120 and Fill Up
Assuming the 90 days trading horizon SBF 120 is expected to generate 7.83 times less return on investment than Fill Up. But when comparing it to its historical volatility, SBF 120 is 2.3 times less risky than Fill Up. It trades about 0.0 of its potential returns per unit of risk. Fill Up Media is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 616.00 in Fill Up Media on August 31, 2024 and sell it today you would lose (6.00) from holding Fill Up Media or give up 0.97% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.74% |
| Values | Daily Returns |
SBF 120 vs. Fill Up Media
Performance |
| Timeline |
SBF 120 and Fill Up Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Fill Up Media
Pair trading matchups for Fill Up
Pair Trading with SBF 120 and Fill Up
The main advantage of trading using opposite SBF 120 and Fill Up positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Fill Up 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 Fill Up will offset losses from the drop in Fill Up's long position.| SBF 120 vs. Lexibook Linguistic Electronic | SBF 120 vs. Eutelsat Communications SA | SBF 120 vs. Soditech SA | SBF 120 vs. Fill Up Media |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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