Correlation Between SFL and NDASS
Specify exactly 2 symbols:
By analyzing existing cross correlation between SFL Corporation and NDASS 75 28 AUG 25, you can compare the effects of market volatilities on SFL and NDASS 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 SFL with a short position of NDASS. Check out your portfolio center. Please also check ongoing floating volatility patterns of SFL and NDASS.
Diversification Opportunities for SFL and NDASS
Very good diversification
The 3 months correlation between SFL and NDASS is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding SFL Corp. and NDASS 75 28 AUG 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NDASS 75 28 and SFL 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 SFL Corporation are associated (or correlated) with NDASS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NDASS 75 28 has no effect on the direction of SFL i.e., SFL and NDASS go up and down completely randomly.
Pair Corralation between SFL and NDASS
Considering the 90-day investment horizon SFL Corporation is expected to generate 2.05 times more return on investment than NDASS. However, SFL is 2.05 times more volatile than NDASS 75 28 AUG 25. It trades about 0.05 of its potential returns per unit of risk. NDASS 75 28 AUG 25 is currently generating about -0.01 per unit of risk. If you would invest 842.00 in SFL Corporation on September 12, 2024 and sell it today you would earn a total of 216.00 from holding SFL Corporation or generate 25.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 30.4% |
| Values | Daily Returns |
SFL Corp. vs. NDASS 75 28 AUG 25
Performance |
| Timeline |
| SFL Corporation |
| NDASS 75 28 |
SFL and NDASS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SFL and NDASS
The main advantage of trading using opposite SFL and NDASS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SFL position performs unexpectedly, NDASS 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 NDASS will offset losses from the drop in NDASS's long position.The idea behind SFL Corporation and NDASS 75 28 AUG 25 pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| NDASS vs. SFL Corporation | NDASS vs. Inflection Point Acquisition | NDASS vs. Hurco Companies | NDASS vs. Lululemon Athletica |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
Other Complementary Tools
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon |