Correlation Between SBF 120 and Medicrea International
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By analyzing existing cross correlation between SBF 120 and Medicrea International SA, you can compare the effects of market volatilities on SBF 120 and Medicrea International 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 Medicrea International. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Medicrea International.
Diversification Opportunities for SBF 120 and Medicrea International
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SBF and Medicrea is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Medicrea International SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Medicrea International 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 Medicrea International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Medicrea International has no effect on the direction of SBF 120 i.e., SBF 120 and Medicrea International go up and down completely randomly.
Pair Corralation between SBF 120 and Medicrea International
If you would invest 548,412 in SBF 120 on September 13, 2024 and sell it today you would earn a total of 13,922 from holding SBF 120 or generate 2.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
SBF 120 vs. Medicrea International SA
Performance |
| Timeline |
SBF 120 and Medicrea International Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Medicrea International SA
Pair trading matchups for Medicrea International
Pair Trading with SBF 120 and Medicrea International
The main advantage of trading using opposite SBF 120 and Medicrea International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Medicrea International 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 Medicrea International will offset losses from the drop in Medicrea International's long position.| SBF 120 vs. Credit Agricole SA | SBF 120 vs. Gaztransport Technigaz SAS | SBF 120 vs. Covivio Hotels | SBF 120 vs. Axway Software |
| Medicrea International vs. Impulse Fitness Solutions | Medicrea International vs. Marie Brizard Wine | Medicrea International vs. Fill Up Media | Medicrea International vs. Affluent Medical 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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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