Correlation Between SBF 120 and Cogelec SA
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By analyzing existing cross correlation between SBF 120 and Cogelec SA, you can compare the effects of market volatilities on SBF 120 and Cogelec SA 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 Cogelec SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Cogelec SA.
Diversification Opportunities for SBF 120 and Cogelec SA
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SBF and Cogelec is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Cogelec SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cogelec SA 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 Cogelec SA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cogelec SA has no effect on the direction of SBF 120 i.e., SBF 120 and Cogelec SA go up and down completely randomly.
Pair Corralation between SBF 120 and Cogelec SA
If you would invest 1,500 in Cogelec SA on August 24, 2024 and sell it today you would earn a total of 110.00 from holding Cogelec SA or generate 7.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.35% |
| Values | Daily Returns |
SBF 120 vs. Cogelec SA
Performance |
| Timeline |
SBF 120 and Cogelec SA Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Cogelec SA
Pair trading matchups for Cogelec SA
Pair Trading with SBF 120 and Cogelec SA
The main advantage of trading using opposite SBF 120 and Cogelec SA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Cogelec SA 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 Cogelec SA will offset losses from the drop in Cogelec SA's long position.| SBF 120 vs. Mauna Kea Technologies | SBF 120 vs. Axway Software | SBF 120 vs. Soditech SA | SBF 120 vs. Guandao Puer Investment |
| Cogelec SA vs. Ekinops SA | Cogelec SA vs. Damartex | Cogelec SA vs. Graines Voltz SA | Cogelec SA vs. Riber 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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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