Correlation Between Sasol and Ampersand Sanlam
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sasol Ltd Bee and Ampersand Sanlam Collective, you can compare the effects of market volatilities on Sasol and Ampersand Sanlam 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 Sasol with a short position of Ampersand Sanlam. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sasol and Ampersand Sanlam.
Diversification Opportunities for Sasol and Ampersand Sanlam
-0.38 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Sasol and Ampersand is -0.38. Overlapping area represents the amount of risk that can be diversified away by holding Sasol Ltd Bee and Ampersand Sanlam Collective in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ampersand Sanlam Col and Sasol 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 Sasol Ltd Bee are associated (or correlated) with Ampersand Sanlam. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ampersand Sanlam Col has no effect on the direction of Sasol i.e., Sasol and Ampersand Sanlam go up and down completely randomly.
Pair Corralation between Sasol and Ampersand Sanlam
Assuming the 90 days trading horizon Sasol Ltd Bee is expected to under-perform the Ampersand Sanlam. In addition to that, Sasol is 7.77 times more volatile than Ampersand Sanlam Collective. It trades about -0.01 of its total potential returns per unit of risk. Ampersand Sanlam Collective is currently generating about 0.07 per unit of volatility. If you would invest 170.00 in Ampersand Sanlam Collective on September 3, 2024 and sell it today you would earn a total of 34.00 from holding Ampersand Sanlam Collective or generate 20.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.18% |
| Values | Daily Returns |
Sasol Ltd Bee vs. Ampersand Sanlam Collective
Performance |
| Timeline |
| Sasol Ltd Bee |
| Ampersand Sanlam Col |
Sasol and Ampersand Sanlam Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sasol and Ampersand Sanlam
The main advantage of trading using opposite Sasol and Ampersand Sanlam positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sasol position performs unexpectedly, Ampersand Sanlam 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 Ampersand Sanlam will offset losses from the drop in Ampersand Sanlam's long position.The idea behind Sasol Ltd Bee and Ampersand Sanlam Collective 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.| Ampersand Sanlam vs. Sasol Ltd Bee | Ampersand Sanlam vs. Centaur Bci Balanced | Ampersand Sanlam vs. Sabvest Capital | Ampersand Sanlam vs. Growthpoint Properties |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
Other Complementary Tools
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Stocks Directory Find actively traded stocks across global markets | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges |