Correlation Between Genfit SA and SEI INVESTMENTS
Can any of the company-specific risk be diversified away by investing in both Genfit SA and SEI INVESTMENTS at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Genfit SA and SEI INVESTMENTS into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Genfit SA and SEI INVESTMENTS, you can compare the effects of market volatilities on Genfit SA and SEI INVESTMENTS 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 Genfit SA with a short position of SEI INVESTMENTS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Genfit SA and SEI INVESTMENTS.
Diversification Opportunities for Genfit SA and SEI INVESTMENTS
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Genfit and SEI is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Genfit SA and SEI INVESTMENTS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SEI INVESTMENTS and Genfit SA 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 Genfit SA are associated (or correlated) with SEI INVESTMENTS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SEI INVESTMENTS has no effect on the direction of Genfit SA i.e., Genfit SA and SEI INVESTMENTS go up and down completely randomly.
Pair Corralation between Genfit SA and SEI INVESTMENTS
If you would invest 0.00 in Genfit SA on October 14, 2024 and sell it today you would earn a total of 0.00 from holding Genfit SA or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.88% |
| Values | Daily Returns |
Genfit SA vs. SEI INVESTMENTS
Performance |
| Timeline |
| Genfit SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| SEI INVESTMENTS |
Genfit SA and SEI INVESTMENTS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Genfit SA and SEI INVESTMENTS
The main advantage of trading using opposite Genfit SA and SEI INVESTMENTS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Genfit SA position performs unexpectedly, SEI INVESTMENTS 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 SEI INVESTMENTS will offset losses from the drop in SEI INVESTMENTS's long position.| Genfit SA vs. Fukuyama Transporting Co | Genfit SA vs. Universal Insurance Holdings | Genfit SA vs. SPORTING | Genfit SA vs. Gaztransport Technigaz SA |
| SEI INVESTMENTS vs. UNIVERSAL MUSIC GROUP | SEI INVESTMENTS vs. PLAYTIKA HOLDING DL 01 | SEI INVESTMENTS vs. Zoom Video Communications | SEI INVESTMENTS vs. Soken Chemical Engineering |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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