Correlation Between SBF 120 and Jacquet Metal
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By analyzing existing cross correlation between SBF 120 and Jacquet Metal Service, you can compare the effects of market volatilities on SBF 120 and Jacquet Metal 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 Jacquet Metal. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Jacquet Metal.
Diversification Opportunities for SBF 120 and Jacquet Metal
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between SBF and Jacquet is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Jacquet Metal Service in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jacquet Metal Service 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 Jacquet Metal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jacquet Metal Service has no effect on the direction of SBF 120 i.e., SBF 120 and Jacquet Metal go up and down completely randomly.
Pair Corralation between SBF 120 and Jacquet Metal
Assuming the 90 days trading horizon SBF 120 is expected to generate 0.59 times more return on investment than Jacquet Metal. However, SBF 120 is 1.69 times less risky than Jacquet Metal. It trades about -0.16 of its potential returns per unit of risk. Jacquet Metal Service is currently generating about -0.1 per unit of risk. If you would invest 568,853 in SBF 120 on August 25, 2024 and sell it today you would lose (18,694) from holding SBF 120 or give up 3.29% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SBF 120 vs. Jacquet Metal Service
Performance |
| Timeline |
SBF 120 and Jacquet Metal Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Jacquet Metal Service
Pair trading matchups for Jacquet Metal
Pair Trading with SBF 120 and Jacquet Metal
The main advantage of trading using opposite SBF 120 and Jacquet Metal positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Jacquet Metal 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 Jacquet Metal will offset losses from the drop in Jacquet Metal's long position.| SBF 120 vs. Mauna Kea Technologies | SBF 120 vs. Axway Software | SBF 120 vs. Soditech SA | SBF 120 vs. Guandao Puer Investment |
| Jacquet Metal vs. Prodways Group SA | Jacquet Metal vs. Claranova SE | Jacquet Metal vs. DBV Technologies SA | Jacquet Metal vs. Manitou BF 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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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