Correlation Between Sligro Food and JABHOL
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By analyzing existing cross correlation between Sligro Food Group and JABHOL 22 23 NOV 30, you can compare the effects of market volatilities on Sligro Food and JABHOL 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 Sligro Food with a short position of JABHOL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sligro Food and JABHOL.
Diversification Opportunities for Sligro Food and JABHOL
-0.68 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Sligro and JABHOL is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding Sligro Food Group and JABHOL 22 23 NOV 30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JABHOL 22 23 and Sligro Food 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 Sligro Food Group are associated (or correlated) with JABHOL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JABHOL 22 23 has no effect on the direction of Sligro Food i.e., Sligro Food and JABHOL go up and down completely randomly.
Pair Corralation between Sligro Food and JABHOL
Assuming the 90 days horizon Sligro Food Group is expected to generate 0.84 times more return on investment than JABHOL. However, Sligro Food Group is 1.19 times less risky than JABHOL. It trades about -0.07 of its potential returns per unit of risk. JABHOL 22 23 NOV 30 is currently generating about -0.06 per unit of risk. If you would invest 1,705 in Sligro Food Group on September 14, 2024 and sell it today you would lose (505.00) from holding Sligro Food Group or give up 29.62% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 12.64% |
| Values | Daily Returns |
Sligro Food Group vs. JABHOL 22 23 NOV 30
Performance |
| Timeline |
| Sligro Food Group |
| JABHOL 22 23 |
Sligro Food and JABHOL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sligro Food and JABHOL
The main advantage of trading using opposite Sligro Food and JABHOL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sligro Food position performs unexpectedly, JABHOL 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 JABHOL will offset losses from the drop in JABHOL's long position.| Sligro Food vs. Legacy Education | Sligro Food vs. Apple Inc | Sligro Food vs. NVIDIA | Sligro Food vs. Microsoft |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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