Correlation Between SBF 120 and Fonciere Inea
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By analyzing existing cross correlation between SBF 120 and Fonciere Inea, you can compare the effects of market volatilities on SBF 120 and Fonciere Inea 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 Fonciere Inea. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Fonciere Inea.
Diversification Opportunities for SBF 120 and Fonciere Inea
-0.41 | Correlation Coefficient |
Very good diversification
The 3 months correlation between SBF and Fonciere is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Fonciere Inea in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fonciere Inea 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 Fonciere Inea. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fonciere Inea has no effect on the direction of SBF 120 i.e., SBF 120 and Fonciere Inea go up and down completely randomly.
Pair Corralation between SBF 120 and Fonciere Inea
Assuming the 90 days trading horizon SBF 120 is expected to under-perform the Fonciere Inea. But the index apears to be less risky and, when comparing its historical volatility, SBF 120 is 1.01 times less risky than Fonciere Inea. The index trades about -0.07 of its potential returns per unit of risk. The Fonciere Inea is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest 3,270 in Fonciere Inea on August 28, 2024 and sell it today you would lose (130.00) from holding Fonciere Inea or give up 3.98% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
SBF 120 vs. Fonciere Inea
Performance |
| Timeline |
SBF 120 and Fonciere Inea Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Fonciere Inea
Pair trading matchups for Fonciere Inea
Pair Trading with SBF 120 and Fonciere Inea
The main advantage of trading using opposite SBF 120 and Fonciere Inea positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Fonciere Inea 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 Fonciere Inea will offset losses from the drop in Fonciere Inea's long position.| SBF 120 vs. ZCCM Investments Holdings | SBF 120 vs. Les Hotels Bav | SBF 120 vs. X Fab Silicon | SBF 120 vs. CMG Cleantech SA |
| Fonciere Inea vs. Fonciere Lyonnaise | Fonciere Inea vs. Immobiliere Dassault SA | Fonciere Inea vs. Frey 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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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