Correlation Between SOCGEN and Sligro Food
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By analyzing existing cross correlation between SOCGEN 4677 15 JUN 27 and Sligro Food Group, you can compare the effects of market volatilities on SOCGEN and Sligro Food 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 SOCGEN with a short position of Sligro Food. Check out your portfolio center. Please also check ongoing floating volatility patterns of SOCGEN and Sligro Food.
Diversification Opportunities for SOCGEN and Sligro Food
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between SOCGEN and Sligro is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding SOCGEN 4677 15 JUN 27 and Sligro Food Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sligro Food Group and SOCGEN 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 SOCGEN 4677 15 JUN 27 are associated (or correlated) with Sligro Food. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sligro Food Group has no effect on the direction of SOCGEN i.e., SOCGEN and Sligro Food go up and down completely randomly.
Pair Corralation between SOCGEN and Sligro Food
Assuming the 90 days trading horizon SOCGEN 4677 15 JUN 27 is expected to generate 0.27 times more return on investment than Sligro Food. However, SOCGEN 4677 15 JUN 27 is 3.68 times less risky than Sligro Food. It trades about -0.33 of its potential returns per unit of risk. Sligro Food Group is currently generating about -0.21 per unit of risk. If you would invest 9,967 in SOCGEN 4677 15 JUN 27 on September 2, 2024 and sell it today you would lose (162.00) from holding SOCGEN 4677 15 JUN 27 or give up 1.63% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 31.82% |
| Values | Daily Returns |
SOCGEN 4677 15 JUN 27 vs. Sligro Food Group
Performance |
| Timeline |
| SOCGEN 4677 15 |
| Sligro Food Group |
SOCGEN and Sligro Food Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SOCGEN and Sligro Food
The main advantage of trading using opposite SOCGEN and Sligro Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SOCGEN position performs unexpectedly, Sligro Food 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 Sligro Food will offset losses from the drop in Sligro Food's long position.| SOCGEN vs. Sligro Food Group | SOCGEN vs. Nascent Wine | SOCGEN vs. Diamond Estates Wines | SOCGEN vs. Oatly Group AB |
| Sligro Food vs. Legacy Education | Sligro Food vs. Apple Inc | Sligro Food vs. NVIDIA | Sligro Food vs. Microsoft |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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