Correlation Between SBF 120 and ATEME SA
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By analyzing existing cross correlation between SBF 120 and ATEME SA, you can compare the effects of market volatilities on SBF 120 and ATEME 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 ATEME SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and ATEME SA.
Diversification Opportunities for SBF 120 and ATEME SA
Excellent diversification
The 3 months correlation between SBF and ATEME is -0.61. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and ATEME SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ATEME 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 ATEME SA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ATEME SA has no effect on the direction of SBF 120 i.e., SBF 120 and ATEME SA go up and down completely randomly.
Pair Corralation between SBF 120 and ATEME SA
Assuming the 90 days trading horizon SBF 120 is expected to generate 0.31 times more return on investment than ATEME SA. However, SBF 120 is 3.25 times less risky than ATEME SA. It trades about 0.01 of its potential returns per unit of risk. ATEME SA is currently generating about -0.05 per unit of risk. If you would invest 529,237 in SBF 120 on August 31, 2024 and sell it today you would earn a total of 15,553 from holding SBF 120 or generate 2.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.59% |
| Values | Daily Returns |
SBF 120 vs. ATEME SA
Performance |
| Timeline |
SBF 120 and ATEME SA Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
ATEME SA
Pair trading matchups for ATEME SA
Pair Trading with SBF 120 and ATEME SA
The main advantage of trading using opposite SBF 120 and ATEME SA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, ATEME 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 ATEME SA will offset losses from the drop in ATEME SA'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 |
| ATEME SA vs. Avenir Telecom SA | ATEME SA vs. Novatech Industries SA | ATEME SA vs. Eutelsat Communications SA | ATEME SA vs. Axway Software |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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