Correlation Between Sabre Insurance and Xiabuxiabu Catering
Can any of the company-specific risk be diversified away by investing in both Sabre Insurance and Xiabuxiabu Catering at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Sabre Insurance and Xiabuxiabu Catering into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sabre Insurance Group and Xiabuxiabu Catering Management, you can compare the effects of market volatilities on Sabre Insurance and Xiabuxiabu Catering 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 Sabre Insurance with a short position of Xiabuxiabu Catering. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sabre Insurance and Xiabuxiabu Catering.
Diversification Opportunities for Sabre Insurance and Xiabuxiabu Catering
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Sabre and Xiabuxiabu is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Sabre Insurance Group and Xiabuxiabu Catering Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xiabuxiabu Catering and Sabre Insurance 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 Sabre Insurance Group are associated (or correlated) with Xiabuxiabu Catering. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xiabuxiabu Catering has no effect on the direction of Sabre Insurance i.e., Sabre Insurance and Xiabuxiabu Catering go up and down completely randomly.
Pair Corralation between Sabre Insurance and Xiabuxiabu Catering
Assuming the 90 days horizon Sabre Insurance Group is expected to generate 0.04 times more return on investment than Xiabuxiabu Catering. However, Sabre Insurance Group is 23.12 times less risky than Xiabuxiabu Catering. It trades about 0.08 of its potential returns per unit of risk. Xiabuxiabu Catering Management is currently generating about -0.09 per unit of risk. If you would invest 476.00 in Sabre Insurance Group on September 12, 2024 and sell it today you would earn a total of 28.00 from holding Sabre Insurance Group or generate 5.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.6% |
| Values | Daily Returns |
Sabre Insurance Group vs. Xiabuxiabu Catering Management
Performance |
| Timeline |
| Sabre Insurance Group |
| Xiabuxiabu Catering |
Sabre Insurance and Xiabuxiabu Catering Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sabre Insurance and Xiabuxiabu Catering
The main advantage of trading using opposite Sabre Insurance and Xiabuxiabu Catering positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sabre Insurance position performs unexpectedly, Xiabuxiabu Catering 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 Xiabuxiabu Catering will offset losses from the drop in Xiabuxiabu Catering's long position.| Sabre Insurance vs. Xiabuxiabu Catering Management | Sabre Insurance vs. CapitaLand Investment Limited | Sabre Insurance vs. Waste Management | Sabre Insurance vs. Guangdong Investment Limited |
| Xiabuxiabu Catering vs. Jollibee Foods Corp | Xiabuxiabu Catering vs. Nathans Famous | Xiabuxiabu Catering vs. Good Times Restaurants | Xiabuxiabu Catering vs. Compass Group PLC |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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