Correlation Between Snap and RB Global
Can any of the company-specific risk be diversified away by investing in both Snap and RB Global 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 Snap and RB Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Snap Inc and RB Global, you can compare the effects of market volatilities on Snap and RB Global 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 Snap with a short position of RB Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Snap and RB Global.
Diversification Opportunities for Snap and RB Global
Very good diversification
The 3 months correlation between Snap and RBA is -0.38. Overlapping area represents the amount of risk that can be diversified away by holding Snap Inc and RB Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on RB Global and Snap 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 Snap Inc are associated (or correlated) with RB Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of RB Global has no effect on the direction of Snap i.e., Snap and RB Global go up and down completely randomly.
Pair Corralation between Snap and RB Global
Given the investment horizon of 90 days Snap Inc is expected to under-perform the RB Global. In addition to that, Snap is 2.37 times more volatile than RB Global. It trades about -0.18 of its total potential returns per unit of risk. RB Global is currently generating about 0.22 per unit of volatility. If you would invest 10,008 in RB Global on November 7, 2025 and sell it today you would earn a total of 1,590 from holding RB Global or generate 15.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Snap Inc vs. RB Global
Performance |
| Timeline |
| Snap Inc |
| RB Global |
Snap and RB Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Snap and RB Global
The main advantage of trading using opposite Snap and RB Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Snap position performs unexpectedly, RB Global 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 RB Global will offset losses from the drop in RB Global's long position.The idea behind Snap Inc and RB Global 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.| RB Global vs. Global Payments | RB Global vs. UL Solutions | RB Global vs. FTAI Aviation | RB Global vs. Rentokil Initial 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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Other Complementary Tools
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance |