Correlation Between SBF 120 and Integragen
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By analyzing existing cross correlation between SBF 120 and Integragen, you can compare the effects of market volatilities on SBF 120 and Integragen 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 Integragen. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Integragen.
Diversification Opportunities for SBF 120 and Integragen
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between SBF and Integragen is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Integragen in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integragen 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 Integragen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integragen has no effect on the direction of SBF 120 i.e., SBF 120 and Integragen go up and down completely randomly.
Pair Corralation between SBF 120 and Integragen
Assuming the 90 days trading horizon SBF 120 is expected to generate 0.21 times more return on investment than Integragen. However, SBF 120 is 4.66 times less risky than Integragen. It trades about -0.08 of its potential returns per unit of risk. Integragen is currently generating about -0.03 per unit of risk. If you would invest 557,613 in SBF 120 on September 1, 2024 and sell it today you would lose (8,990) from holding SBF 120 or give up 1.61% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
SBF 120 vs. Integragen
Performance |
| Timeline |
SBF 120 and Integragen Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Integragen
Pair trading matchups for Integragen
Pair Trading with SBF 120 and Integragen
The main advantage of trading using opposite SBF 120 and Integragen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Integragen 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 Integragen will offset losses from the drop in Integragen's long position.| SBF 120 vs. Jacquet Metal Service | SBF 120 vs. Eutelsat Communications SA | SBF 120 vs. Hotelim Socit Anonyme | SBF 120 vs. Gaztransport Technigaz SAS |
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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