Correlation Between Sligro Food and MICROSOFT
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sligro Food Group and MICROSOFT PORATION, you can compare the effects of market volatilities on Sligro Food and MICROSOFT 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 MICROSOFT. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sligro Food and MICROSOFT.
Diversification Opportunities for Sligro Food and MICROSOFT
-0.31 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Sligro and MICROSOFT is -0.31. Overlapping area represents the amount of risk that can be diversified away by holding Sligro Food Group and MICROSOFT PORATION in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MICROSOFT PORATION 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 MICROSOFT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MICROSOFT PORATION has no effect on the direction of Sligro Food i.e., Sligro Food and MICROSOFT go up and down completely randomly.
Pair Corralation between Sligro Food and MICROSOFT
Assuming the 90 days horizon Sligro Food Group is expected to under-perform the MICROSOFT. In addition to that, Sligro Food is 1.25 times more volatile than MICROSOFT PORATION. It trades about -0.21 of its total potential returns per unit of risk. MICROSOFT PORATION is currently generating about 0.21 per unit of volatility. If you would invest 6,873 in MICROSOFT PORATION on September 13, 2024 and sell it today you would earn a total of 621.00 from holding MICROSOFT PORATION or generate 9.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Sligro Food Group vs. MICROSOFT PORATION
Performance |
| Timeline |
| Sligro Food Group |
| MICROSOFT PORATION |
Sligro Food and MICROSOFT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sligro Food and MICROSOFT
The main advantage of trading using opposite Sligro Food and MICROSOFT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sligro Food position performs unexpectedly, MICROSOFT 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 MICROSOFT will offset losses from the drop in MICROSOFT's long position.| Sligro Food vs. Sapiens International | Sligro Food vs. Canlan Ice Sports | Sligro Food vs. Mattel Inc | Sligro Food vs. Playa Hotels Resorts |
| MICROSOFT vs. Lululemon Athletica | MICROSOFT vs. Chewy Inc | MICROSOFT vs. Boyd Gaming | MICROSOFT vs. Asbury Automotive Group |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Other Complementary Tools
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years |