Correlation Between SBF 120 and Exail Technologies
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By analyzing existing cross correlation between SBF 120 and Exail Technologies SA, you can compare the effects of market volatilities on SBF 120 and Exail Technologies 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 Exail Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Exail Technologies.
Diversification Opportunities for SBF 120 and Exail Technologies
0.23 | Correlation Coefficient |
Modest diversification
The 3 months correlation between SBF and Exail is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Exail Technologies SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Exail Technologies 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 Exail Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exail Technologies has no effect on the direction of SBF 120 i.e., SBF 120 and Exail Technologies go up and down completely randomly.
Pair Corralation between SBF 120 and Exail Technologies
Assuming the 90 days trading horizon SBF 120 is expected to generate 0.41 times more return on investment than Exail Technologies. However, SBF 120 is 2.45 times less risky than Exail Technologies. It trades about 0.23 of its potential returns per unit of risk. Exail Technologies SA is currently generating about 0.07 per unit of risk. If you would invest 550,631 in SBF 120 on October 25, 2024 and sell it today you would earn a total of 40,701 from holding SBF 120 or generate 7.39% 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. Exail Technologies SA
Performance |
| Timeline |
SBF 120 and Exail Technologies Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Exail Technologies SA
Pair trading matchups for Exail Technologies
Pair Trading with SBF 120 and Exail Technologies
The main advantage of trading using opposite SBF 120 and Exail Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Exail Technologies 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 Exail Technologies will offset losses from the drop in Exail Technologies' long position.| SBF 120 vs. Jacquet Metal Service | SBF 120 vs. Marie Brizard Wine | SBF 120 vs. FNP Technologies SA | SBF 120 vs. Exail Technologies SA |
| Exail Technologies vs. Technip Energies BV | Exail Technologies vs. Netmedia Group SA | Exail Technologies vs. Jacquet Metal Service | Exail Technologies vs. Aures Technologies 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 Stocks Directory module to find actively traded stocks across global markets.
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