Correlation Between ALROSA NYURBA and SBERBANK

By analyzing existing cross correlation between ALROSA NYURBA PJSC and SBERBANK OF RUSSIA, you can compare the effects of market volatilities on ALROSA NYURBA and SBERBANK 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 ALROSA NYURBA with a short position of SBERBANK. Check out your portfolio center. Please also check ongoing floating volatility patterns of ALROSA NYURBA and SBERBANK.

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Can any of the company-specific risk be diversified away by investing in both ALROSA NYURBA and SBERBANK 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 ALROSA NYURBA and SBERBANK into the same portfolio, which is an essential part of the fundamental portfolio management process.

Diversification Opportunities for ALROSA NYURBA and SBERBANK

  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between ALROSA and SBERBANK is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ALROSA NYURBA PJSC and SBERBANK OF RUSSIA in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SBERBANK OF RUSSIA and ALROSA NYURBA 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 ALROSA NYURBA PJSC are associated (or correlated) with SBERBANK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SBERBANK OF RUSSIA has no effect on the direction of ALROSA NYURBA i.e. ALROSA NYURBA and SBERBANK go up and down completely randomly.

Pair Corralation between ALROSA NYURBA and SBERBANK

If you would invest  19,180  in SBERBANK OF RUSSIA on June 15, 2020 and sell it today you would earn a total of  2,080  from holding SBERBANK OF RUSSIA or generate 10.84% return on investment over 30 days.
Time Period3 Months [change]
ValuesDaily Returns


 Performance (%) 

ALROSA NYURBA Risk-Adjusted Performance

Over the last 30 days ALROSA NYURBA PJSC has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound basic indicators, ALROSA NYURBA is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.

SBERBANK Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in SBERBANK OF RUSSIA are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. In spite of rather weak fundamental drivers, SBERBANK exhibited solid returns over the last few months and may actually be approaching a breakup point.

ALROSA NYURBA and SBERBANK Volatility Contrast

Check out your portfolio center. Please also try Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.

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