Correlation Between SBF 120 and Socit BIC
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By analyzing existing cross correlation between SBF 120 and Socit BIC SA, you can compare the effects of market volatilities on SBF 120 and Socit BIC 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 Socit BIC. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Socit BIC.
Diversification Opportunities for SBF 120 and Socit BIC
Weak diversification
The 3 months correlation between SBF and Socit is 0.32. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Socit BIC SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Socit BIC 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 Socit BIC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Socit BIC SA has no effect on the direction of SBF 120 i.e., SBF 120 and Socit BIC go up and down completely randomly.
Pair Corralation between SBF 120 and Socit BIC
Assuming the 90 days trading horizon SBF 120 is expected to generate 0.45 times more return on investment than Socit BIC. However, SBF 120 is 2.21 times less risky than Socit BIC. It trades about 0.13 of its potential returns per unit of risk. Socit BIC SA is currently generating about -0.19 per unit of risk. If you would invest 596,288 in SBF 120 on November 28, 2024 and sell it today you would earn a total of 11,611 from holding SBF 120 or generate 1.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
SBF 120 vs. Socit BIC SA
Performance |
| Timeline |
SBF 120 and Socit BIC Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Socit BIC SA
Pair trading matchups for Socit BIC
Pair Trading with SBF 120 and Socit BIC
The main advantage of trading using opposite SBF 120 and Socit BIC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Socit BIC 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 Socit BIC will offset losses from the drop in Socit BIC's long position.| SBF 120 vs. CMG Cleantech SA | SBF 120 vs. Fiducial Office Solutions | SBF 120 vs. Eutelsat Communications SA | SBF 120 vs. Jacquet Metal Service |
| Socit BIC vs. Imerys SA | Socit BIC vs. Casino Guichard Perrachon | Socit BIC vs. SEB SA | Socit BIC vs. Mtropole Tlvision 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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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