Correlation Between SBF 120 and VanEck Solana
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By analyzing existing cross correlation between SBF 120 and VanEck Solana ETN, you can compare the effects of market volatilities on SBF 120 and VanEck Solana 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 VanEck Solana. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and VanEck Solana.
Diversification Opportunities for SBF 120 and VanEck Solana
-0.82 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SBF and VanEck is -0.82. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and VanEck Solana ETN in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on VanEck Solana ETN 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 VanEck Solana. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VanEck Solana ETN has no effect on the direction of SBF 120 i.e., SBF 120 and VanEck Solana go up and down completely randomly.
Pair Corralation between SBF 120 and VanEck Solana
Assuming the 90 days trading horizon SBF 120 is expected to generate 45.44 times less return on investment than VanEck Solana. But when comparing it to its historical volatility, SBF 120 is 7.3 times less risky than VanEck Solana. It trades about 0.02 of its potential returns per unit of risk. VanEck Solana ETN is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 67.00 in VanEck Solana ETN on September 1, 2024 and sell it today you would earn a total of 1,158 from holding VanEck Solana ETN or generate 1728.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 90.69% |
| Values | Daily Returns |
SBF 120 vs. VanEck Solana ETN
Performance |
| Timeline |
SBF 120 and VanEck Solana Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
VanEck Solana ETN
Pair trading matchups for VanEck Solana
Pair Trading with SBF 120 and VanEck Solana
The main advantage of trading using opposite SBF 120 and VanEck Solana positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, VanEck Solana 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 VanEck Solana will offset losses from the drop in VanEck Solana'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 |
| VanEck Solana vs. Lyxor UCITS Japan | VanEck Solana vs. Lyxor UCITS Japan | VanEck Solana vs. Lyxor UCITS Stoxx | VanEck Solana 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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