Correlation Between SBF 120 and Socit Des
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By analyzing existing cross correlation between SBF 120 and Socit des Chemins, you can compare the effects of market volatilities on SBF 120 and Socit Des 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 Socit Des. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Socit Des.
Diversification Opportunities for SBF 120 and Socit Des
Pay attention - limited upside
The 3 months correlation between SBF and Socit is -0.8. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Socit des Chemins in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Socit des Chemins 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 Socit Des. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Socit des Chemins has no effect on the direction of SBF 120 i.e., SBF 120 and Socit Des go up and down completely randomly.
Pair Corralation between SBF 120 and Socit Des
Assuming the 90 days trading horizon SBF 120 is expected to generate 417.0 times less return on investment than Socit Des. But when comparing it to its historical volatility, SBF 120 is 3.0 times less risky than Socit Des. It trades about 0.0 of its potential returns per unit of risk. Socit des Chemins is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 635,000 in Socit des Chemins on September 4, 2024 and sell it today you would earn a total of 415,000 from holding Socit des Chemins or generate 65.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 94.21% |
| Values | Daily Returns |
SBF 120 vs. Socit des Chemins
Performance |
| Timeline |
SBF 120 and Socit Des Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Socit des Chemins
Pair trading matchups for Socit Des
Pair Trading with SBF 120 and Socit Des
The main advantage of trading using opposite SBF 120 and Socit Des positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Socit Des 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 Socit Des will offset losses from the drop in Socit Des' long position.| SBF 120 vs. Credit Agricole SA | SBF 120 vs. Entech SE SAS | SBF 120 vs. Lexibook Linguistic Electronic | SBF 120 vs. Gaztransport Technigaz SAS |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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