Correlation Between SBF 120 and Amplitude Surgical
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By analyzing existing cross correlation between SBF 120 and Amplitude Surgical SAS, you can compare the effects of market volatilities on SBF 120 and Amplitude Surgical 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 Amplitude Surgical. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Amplitude Surgical.
Diversification Opportunities for SBF 120 and Amplitude Surgical
0.02 | Correlation Coefficient |
Significant diversification
The 3 months correlation between SBF and Amplitude is 0.02. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Amplitude Surgical SAS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amplitude Surgical SAS 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 Amplitude Surgical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amplitude Surgical SAS has no effect on the direction of SBF 120 i.e., SBF 120 and Amplitude Surgical go up and down completely randomly.
Pair Corralation between SBF 120 and Amplitude Surgical
Assuming the 90 days trading horizon SBF 120 is expected to generate 1.88 times less return on investment than Amplitude Surgical. But when comparing it to its historical volatility, SBF 120 is 2.06 times less risky than Amplitude Surgical. It trades about 0.02 of its potential returns per unit of risk. Amplitude Surgical SAS is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 303.00 in Amplitude Surgical SAS on August 29, 2024 and sell it today you would earn a total of 23.00 from holding Amplitude Surgical SAS or generate 7.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.8% |
| Values | Daily Returns |
SBF 120 vs. Amplitude Surgical SAS
Performance |
| Timeline |
SBF 120 and Amplitude Surgical Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Amplitude Surgical SAS
Pair trading matchups for Amplitude Surgical
Pair Trading with SBF 120 and Amplitude Surgical
The main advantage of trading using opposite SBF 120 and Amplitude Surgical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Amplitude Surgical 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 Amplitude Surgical will offset losses from the drop in Amplitude Surgical's long position.| SBF 120 vs. Linedata Services SA | SBF 120 vs. Mauna Kea Technologies | SBF 120 vs. Eutelsat Communications SA | SBF 120 vs. ZCCM Investments Holdings |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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