Correlation Between Safe and Stonebridge Acquisition
Can any of the company-specific risk be diversified away by investing in both Safe and Stonebridge Acquisition 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 Safe and Stonebridge Acquisition into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Safe and Green and Stonebridge Acquisition Corp, you can compare the effects of market volatilities on Safe and Stonebridge Acquisition 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 Safe with a short position of Stonebridge Acquisition. Check out your portfolio center. Please also check ongoing floating volatility patterns of Safe and Stonebridge Acquisition.
Diversification Opportunities for Safe and Stonebridge Acquisition
-0.83 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Safe and Stonebridge is -0.83. Overlapping area represents the amount of risk that can be diversified away by holding Safe and Green and Stonebridge Acquisition Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Stonebridge Acquisition and Safe 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 Safe and Green are associated (or correlated) with Stonebridge Acquisition. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Stonebridge Acquisition has no effect on the direction of Safe i.e., Safe and Stonebridge Acquisition go up and down completely randomly.
Pair Corralation between Safe and Stonebridge Acquisition
If you would invest 1,095 in Stonebridge Acquisition Corp on August 28, 2024 and sell it today you would earn a total of 0.00 from holding Stonebridge Acquisition Corp or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 4.55% |
| Values | Daily Returns |
Safe and Green vs. Stonebridge Acquisition Corp
Performance |
| Timeline |
| Safe and Green |
| Stonebridge Acquisition |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Safe and Stonebridge Acquisition Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Safe and Stonebridge Acquisition
The main advantage of trading using opposite Safe and Stonebridge Acquisition positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Safe position performs unexpectedly, Stonebridge Acquisition 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 Stonebridge Acquisition will offset losses from the drop in Stonebridge Acquisition's long position.| Safe vs. Investcorp Credit Management | Safe vs. Medalist Diversified Reit | Safe vs. Aquagold International | Safe vs. Morningstar Unconstrained Allocation |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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