Correlation Between SBF 120 and France Tourisme
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By analyzing existing cross correlation between SBF 120 and France Tourisme Immobilier, you can compare the effects of market volatilities on SBF 120 and France Tourisme 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 France Tourisme. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and France Tourisme.
Diversification Opportunities for SBF 120 and France Tourisme
0.23 | Correlation Coefficient |
Modest diversification
The 3 months correlation between SBF and France is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and France Tourisme Immobilier in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on France Tourisme Immo 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 France Tourisme. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of France Tourisme Immo has no effect on the direction of SBF 120 i.e., SBF 120 and France Tourisme go up and down completely randomly.
Pair Corralation between SBF 120 and France Tourisme
Assuming the 90 days trading horizon SBF 120 is expected to generate 0.06 times more return on investment than France Tourisme. However, SBF 120 is 16.56 times less risky than France Tourisme. It trades about -0.1 of its potential returns per unit of risk. France Tourisme Immobilier is currently generating about -0.07 per unit of risk. If you would invest 559,294 in SBF 120 on September 3, 2024 and sell it today you would lose (10,671) from holding SBF 120 or give up 1.91% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
SBF 120 vs. France Tourisme Immobilier
Performance |
| Timeline |
SBF 120 and France Tourisme Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
France Tourisme Immobilier
Pair trading matchups for France Tourisme
Pair Trading with SBF 120 and France Tourisme
The main advantage of trading using opposite SBF 120 and France Tourisme positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, France Tourisme 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 France Tourisme will offset losses from the drop in France Tourisme's long position.| SBF 120 vs. Veolia Environnement VE | SBF 120 vs. Jacquet Metal Service | SBF 120 vs. Fiducial Office Solutions | SBF 120 vs. Guandao Puer Investment |
| France Tourisme vs. FIPP SA | France Tourisme vs. Adomos SA | France Tourisme vs. Acanthe Dveloppement | France Tourisme vs. Acheter Louer |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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