Correlation Between Siriuspoint and BPCEGP
Specify exactly 2 symbols:
By analyzing existing cross correlation between Siriuspoint and BPCEGP 4625 12 SEP 28, you can compare the effects of market volatilities on Siriuspoint and BPCEGP 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 Siriuspoint with a short position of BPCEGP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Siriuspoint and BPCEGP.
Diversification Opportunities for Siriuspoint and BPCEGP
-0.51 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Siriuspoint and BPCEGP is -0.51. Overlapping area represents the amount of risk that can be diversified away by holding Siriuspoint and BPCEGP 4625 12 SEP 28 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BPCEGP 4625 12 and Siriuspoint 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 Siriuspoint are associated (or correlated) with BPCEGP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BPCEGP 4625 12 has no effect on the direction of Siriuspoint i.e., Siriuspoint and BPCEGP go up and down completely randomly.
Pair Corralation between Siriuspoint and BPCEGP
Given the investment horizon of 90 days Siriuspoint is expected to generate 1.13 times more return on investment than BPCEGP. However, Siriuspoint is 1.13 times more volatile than BPCEGP 4625 12 SEP 28. It trades about 0.28 of its potential returns per unit of risk. BPCEGP 4625 12 SEP 28 is currently generating about 0.21 per unit of risk. If you would invest 1,335 in Siriuspoint on September 2, 2024 and sell it today you would earn a total of 207.00 from holding Siriuspoint or generate 15.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 47.62% |
| Values | Daily Returns |
Siriuspoint vs. BPCEGP 4625 12 SEP 28
Performance |
| Timeline |
| Siriuspoint |
| BPCEGP 4625 12 |
Siriuspoint and BPCEGP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Siriuspoint and BPCEGP
The main advantage of trading using opposite Siriuspoint and BPCEGP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Siriuspoint position performs unexpectedly, BPCEGP 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 BPCEGP will offset losses from the drop in BPCEGP's long position.| Siriuspoint vs. Maiden Holdings | Siriuspoint vs. Reinsurance Group of | Siriuspoint vs. Oxbridge Re Holdings | Siriuspoint vs. Greenlight Capital Re |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
Other Complementary Tools
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |