Correlation Between Sinclair and BCE
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By analyzing existing cross correlation between Sinclair Television Group and BCE Inc, you can compare the effects of market volatilities on Sinclair and BCE 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 Sinclair with a short position of BCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sinclair and BCE.
Diversification Opportunities for Sinclair and BCE
Good diversification
The 3 months correlation between Sinclair and BCE is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Sinclair Television Group and BCE Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BCE Inc and Sinclair 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 Sinclair Television Group are associated (or correlated) with BCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BCE Inc has no effect on the direction of Sinclair i.e., Sinclair and BCE go up and down completely randomly.
Pair Corralation between Sinclair and BCE
Assuming the 90 days trading horizon Sinclair Television Group is expected to generate 1.65 times more return on investment than BCE. However, Sinclair is 1.65 times more volatile than BCE Inc. It trades about 0.01 of its potential returns per unit of risk. BCE Inc is currently generating about -0.07 per unit of risk. If you would invest 7,344 in Sinclair Television Group on November 19, 2024 and sell it today you would lose (244.00) from holding Sinclair Television Group or give up 3.32% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 92.94% |
| Values | Daily Returns |
Sinclair Television Group vs. BCE Inc
Performance |
| Timeline |
| Sinclair Television |
| BCE Inc |
Sinclair and BCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sinclair and BCE
The main advantage of trading using opposite Sinclair and BCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sinclair position performs unexpectedly, BCE 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 BCE will offset losses from the drop in BCE's long position.| Sinclair vs. Delek Drilling | Sinclair vs. Orion Office Reit | Sinclair vs. Southern Home Medicl | Sinclair vs. Douglas Emmett |
| BCE vs. Rogers Communications | BCE vs. America Movil SAB | BCE vs. Telus Corp | BCE vs. Telefonica Brasil SA |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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