Correlation Between SBF 120 and Amundi SP
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By analyzing existing cross correlation between SBF 120 and Amundi SP Global, you can compare the effects of market volatilities on SBF 120 and Amundi SP 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 Amundi SP. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Amundi SP.
Diversification Opportunities for SBF 120 and Amundi SP
Pay attention - limited upside
The 3 months correlation between SBF and Amundi is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Amundi SP Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amundi SP Global 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 Amundi SP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amundi SP Global has no effect on the direction of SBF 120 i.e., SBF 120 and Amundi SP go up and down completely randomly.
Pair Corralation between SBF 120 and Amundi SP
Assuming the 90 days trading horizon SBF 120 is expected to generate 0.19 times more return on investment than Amundi SP. However, SBF 120 is 5.36 times less risky than Amundi SP. It trades about 0.03 of its potential returns per unit of risk. Amundi SP Global is currently generating about -0.04 per unit of risk. If you would invest 499,720 in SBF 120 on September 13, 2024 and sell it today you would earn a total of 62,909 from holding SBF 120 or generate 12.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.6% |
| Values | Daily Returns |
SBF 120 vs. Amundi SP Global
Performance |
| Timeline |
SBF 120 and Amundi SP Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Amundi SP Global
Pair trading matchups for Amundi SP
Pair Trading with SBF 120 and Amundi SP
The main advantage of trading using opposite SBF 120 and Amundi SP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Amundi SP 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 Amundi SP will offset losses from the drop in Amundi SP's long position.| SBF 120 vs. Pullup Entertainment Socit | SBF 120 vs. Diagnostic Medical Systems | SBF 120 vs. Fiducial Office Solutions | SBF 120 vs. Jacquet Metal Service |
| Amundi SP vs. Lyxor UCITS Japan | Amundi SP vs. Lyxor UCITS Japan | Amundi SP vs. Lyxor UCITS Stoxx | Amundi SP vs. Amundi CAC 40 |
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 Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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