Correlation Between SBF 120 and Jacques Bogart
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By analyzing existing cross correlation between SBF 120 and Jacques Bogart SA, you can compare the effects of market volatilities on SBF 120 and Jacques Bogart 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 Jacques Bogart. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Jacques Bogart.
Diversification Opportunities for SBF 120 and Jacques Bogart
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between SBF and Jacques is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Jacques Bogart SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jacques Bogart 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 Jacques Bogart. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jacques Bogart SA has no effect on the direction of SBF 120 i.e., SBF 120 and Jacques Bogart go up and down completely randomly.
Pair Corralation between SBF 120 and Jacques Bogart
Assuming the 90 days trading horizon SBF 120 is expected to generate 0.42 times more return on investment than Jacques Bogart. However, SBF 120 is 2.38 times less risky than Jacques Bogart. It trades about -0.08 of its potential returns per unit of risk. Jacques Bogart SA is currently generating about -0.06 per unit of risk. If you would invest 557,613 in SBF 120 on September 1, 2024 and sell it today you would lose (8,990) from holding SBF 120 or give up 1.61% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
SBF 120 vs. Jacques Bogart SA
Performance |
| Timeline |
SBF 120 and Jacques Bogart Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Jacques Bogart SA
Pair trading matchups for Jacques Bogart
Pair Trading with SBF 120 and Jacques Bogart
The main advantage of trading using opposite SBF 120 and Jacques Bogart positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Jacques Bogart 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 Jacques Bogart will offset losses from the drop in Jacques Bogart's long position.| SBF 120 vs. Jacquet Metal Service | SBF 120 vs. Eutelsat Communications SA | SBF 120 vs. Hotelim Socit Anonyme | SBF 120 vs. Gaztransport Technigaz SAS |
| Jacques Bogart vs. Herige SA | Jacques Bogart vs. NRJ Group | Jacques Bogart vs. Haulotte Group SA | Jacques Bogart vs. Stef 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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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