Correlation Between SBF 120 and Worldline
Specify exactly 2 symbols:
By analyzing existing cross correlation between SBF 120 and Worldline SA, you can compare the effects of market volatilities on SBF 120 and Worldline 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 Worldline. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Worldline.
Diversification Opportunities for SBF 120 and Worldline
Average diversification
The 3 months correlation between SBF and Worldline is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Worldline SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Worldline SA 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 Worldline. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Worldline SA has no effect on the direction of SBF 120 i.e., SBF 120 and Worldline go up and down completely randomly.
Pair Corralation between SBF 120 and Worldline
Assuming the 90 days trading horizon SBF 120 is expected to under-perform the Worldline. But the index apears to be less risky and, when comparing its historical volatility, SBF 120 is 3.35 times less risky than Worldline. The index trades about -0.2 of its potential returns per unit of risk. The Worldline SA is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 631.00 in Worldline SA on August 28, 2024 and sell it today you would earn a total of 10.00 from holding Worldline SA or generate 1.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SBF 120 vs. Worldline SA
Performance |
| Timeline |
SBF 120 and Worldline Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Worldline SA
Pair trading matchups for Worldline
Pair Trading with SBF 120 and Worldline
The main advantage of trading using opposite SBF 120 and Worldline positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Worldline 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 Worldline will offset losses from the drop in Worldline's long position.| SBF 120 vs. X Fab Silicon | SBF 120 vs. Axway Software | SBF 120 vs. Covivio Hotels | SBF 120 vs. Novatech Industries SA |
| Worldline vs. Sartorius Stedim Biotech | Worldline vs. Lectra SA | Worldline vs. Teleperformance SE | Worldline vs. Trigano 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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
Other Complementary Tools
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments |