Correlation Between SBF 120 and Sartorius Stedim
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By analyzing existing cross correlation between SBF 120 and Sartorius Stedim Biotech, you can compare the effects of market volatilities on SBF 120 and Sartorius Stedim 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 Sartorius Stedim. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Sartorius Stedim.
Diversification Opportunities for SBF 120 and Sartorius Stedim
0.33 | Correlation Coefficient |
Weak diversification
The 3 months correlation between SBF and Sartorius is 0.33. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Sartorius Stedim Biotech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sartorius Stedim Biotech 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 Sartorius Stedim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sartorius Stedim Biotech has no effect on the direction of SBF 120 i.e., SBF 120 and Sartorius Stedim go up and down completely randomly.
Pair Corralation between SBF 120 and Sartorius Stedim
Assuming the 90 days trading horizon SBF 120 is expected to generate 0.37 times more return on investment than Sartorius Stedim. However, SBF 120 is 2.72 times less risky than Sartorius Stedim. It trades about -0.2 of its potential returns per unit of risk. Sartorius Stedim Biotech is currently generating about -0.12 per unit of risk. If you would invest 572,831 in SBF 120 on August 27, 2024 and sell it today you would lose (22,200) from holding SBF 120 or give up 3.88% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
SBF 120 vs. Sartorius Stedim Biotech
Performance |
| Timeline |
SBF 120 and Sartorius Stedim Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Sartorius Stedim Biotech
Pair trading matchups for Sartorius Stedim
Pair Trading with SBF 120 and Sartorius Stedim
The main advantage of trading using opposite SBF 120 and Sartorius Stedim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Sartorius Stedim 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 Sartorius Stedim will offset losses from the drop in Sartorius Stedim's long position.| SBF 120 vs. X Fab Silicon | SBF 120 vs. Axway Software | SBF 120 vs. Covivio Hotels | SBF 120 vs. Novatech Industries SA |
| Sartorius Stedim vs. Eurofins Scientific SE | Sartorius Stedim vs. Teleperformance SE | Sartorius Stedim vs. Biomerieux SA | Sartorius Stedim vs. Dassault Systemes SE |
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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