Correlation Between Rubis SCA and Samse SA

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

By analyzing existing cross correlation between Rubis SCA and Samse SA, you can compare the effects of market volatilities on Rubis SCA and Samse SA 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 Rubis SCA with a short position of Samse SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Rubis SCA and Samse SA.

Diversification Opportunities for Rubis SCA and Samse SA

0.57

Correlation Coefficient

Rubis SCA  Samse SA

Very weak diversification

The 3 months correlation between Rubis and Samse is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Rubis SCA and Samse SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Samse SA and Rubis SCA 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 Rubis SCA are associated (or correlated) with Samse SA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Samse SA has no effect on the direction of Rubis SCA i.e., Rubis SCA and Samse SA go up and down completely randomly.

Pair Corralation between Rubis SCA and Samse SA

Assuming the 90 days trading horizon Rubis SCA is expected to generate 1.9 times less return on investment than Samse SA. But when comparing it to its historical volatility, Rubis SCA is 1.21 times less risky than Samse SA. It trades about 0.15 of its potential returns per unit of risk. Samse SA is currently generating about 0.23 of returns per unit of risk over similar time horizon. If you would invest  13,142  in Samse SA on April 24, 2025 and sell it today you would earn a total of  2,358  from holding Samse SA or generate 17.94% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Weak
Accuracy	98.44%
Values	Daily Returns

Rubis SCA  vs.  Samse SA

Rubis SCA

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Rubis SCA are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. Despite somewhat weak forward indicators, Rubis SCA may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Samse SA

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Samse SA are ranked lower than 18 (%) of all global equities and portfolios over the last 90 days. Despite somewhat weak basic indicators, Samse SA sustained solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Rubis SCA and Samse SA

The main advantage of trading using opposite Rubis SCA and Samse SA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Rubis SCA position performs unexpectedly, Samse SA 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 Samse SA will offset losses from the drop in Samse SA's long position.

The idea behind Rubis SCA and Samse SA pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.