Correlation Between Sasol and CoreShares Preference
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By analyzing existing cross correlation between Sasol Ltd Bee and CoreShares Preference Share, you can compare the effects of market volatilities on Sasol and CoreShares Preference 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 CoreShares Preference. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sasol and CoreShares Preference.
Diversification Opportunities for Sasol and CoreShares Preference
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Sasol and CoreShares is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Sasol Ltd Bee and CoreShares Preference Share in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CoreShares Preference 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 CoreShares Preference. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CoreShares Preference has no effect on the direction of Sasol i.e., Sasol and CoreShares Preference go up and down completely randomly.
Pair Corralation between Sasol and CoreShares Preference
If you would invest 98,500 in CoreShares Preference Share on August 27, 2024 and sell it today you would earn a total of 0.00 from holding CoreShares Preference Share or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Sasol Ltd Bee vs. CoreShares Preference Share
Performance |
| Timeline |
| Sasol Ltd Bee |
| CoreShares Preference |
Sasol and CoreShares Preference Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sasol and CoreShares Preference
The main advantage of trading using opposite Sasol and CoreShares Preference positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sasol position performs unexpectedly, CoreShares Preference 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 CoreShares Preference will offset losses from the drop in CoreShares Preference's long position.| Sasol vs. Europa Metals | Sasol vs. British American Tobacco | Sasol vs. Kap Industrial Holdings | Sasol vs. Anglo American Platinum |
| CoreShares Preference vs. Europa Metals | CoreShares Preference vs. British American Tobacco | CoreShares Preference vs. Kap Industrial Holdings | CoreShares Preference vs. Anglo American Platinum |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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