Correlation Between SWEDA and Sligro Food
Specify exactly 2 symbols:
By analyzing existing cross correlation between SWEDA 1538 16 NOV 26 and Sligro Food Group, you can compare the effects of market volatilities on SWEDA 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 SWEDA with a short position of Sligro Food. Check out your portfolio center. Please also check ongoing floating volatility patterns of SWEDA and Sligro Food.
Diversification Opportunities for SWEDA and Sligro Food
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between SWEDA and Sligro is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding SWEDA 1538 16 NOV 26 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 SWEDA 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 SWEDA 1538 16 NOV 26 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 SWEDA i.e., SWEDA and Sligro Food go up and down completely randomly.
Pair Corralation between SWEDA and Sligro Food
Assuming the 90 days trading horizon SWEDA 1538 16 NOV 26 is expected to under-perform the Sligro Food. But the bond apears to be less risky and, when comparing its historical volatility, SWEDA 1538 16 NOV 26 is 1.11 times less risky than Sligro Food. The bond trades about -0.25 of its potential returns per unit of risk. The Sligro Food Group is currently generating about -0.15 of returns per unit of risk over similar time horizon. If you would invest 1,366 in Sligro Food Group on September 13, 2024 and sell it today you would lose (166.00) from holding Sligro Food Group or give up 12.15% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 37.21% |
| Values | Daily Returns |
SWEDA 1538 16 NOV 26 vs. Sligro Food Group
Performance |
| Timeline |
| SWEDA 1538 16 |
| Sligro Food Group |
SWEDA and Sligro Food Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SWEDA and Sligro Food
The main advantage of trading using opposite SWEDA and Sligro Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SWEDA 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.| SWEDA vs. Weibo Corp | SWEDA vs. Franklin Wireless Corp | SWEDA vs. Pinterest | SWEDA vs. 51Talk Online Education |
| Sligro Food vs. Sapiens International | Sligro Food vs. Canlan Ice Sports | Sligro Food vs. Mattel Inc | Sligro Food vs. Playa Hotels Resorts |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
Other Complementary Tools
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume |