Correlation Between SBF 120 and Roctool
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By analyzing existing cross correlation between SBF 120 and Roctool, you can compare the effects of market volatilities on SBF 120 and Roctool 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 SBF 120 with a short position of Roctool. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Roctool.
Diversification Opportunities for SBF 120 and Roctool
Excellent diversification
The 3 months correlation between SBF and Roctool is -0.54. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Roctool in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Roctool and SBF 120 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 SBF 120 are associated (or correlated) with Roctool. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Roctool has no effect on the direction of SBF 120 i.e., SBF 120 and Roctool go up and down completely randomly.
Pair Corralation between SBF 120 and Roctool
Assuming the 90 days trading horizon SBF 120 is expected to generate 0.12 times more return on investment than Roctool. However, SBF 120 is 8.45 times less risky than Roctool. It trades about 0.08 of its potential returns per unit of risk. Roctool is currently generating about -0.06 per unit of risk. If you would invest 569,450 in SBF 120 on April 24, 2025 and sell it today you would earn a total of 19,460 from holding SBF 120 or generate 3.42% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
SBF 120 vs. Roctool
Performance |
Timeline |
SBF 120 and Roctool Volatility Contrast
Predicted Return Density |
Returns |
SBF 120
Pair trading matchups for SBF 120
Roctool
Pair trading matchups for Roctool
Pair Trading with SBF 120 and Roctool
The main advantage of trading using opposite SBF 120 and Roctool positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Roctool 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 Roctool will offset losses from the drop in Roctool's long position.SBF 120 vs. Cheops Technology France | SBF 120 vs. Semco Technologies Sas | SBF 120 vs. Soditech SA | SBF 120 vs. X Fab Silicon |
Roctool vs. Mediantechn | Roctool vs. Jacquet Metal Service | Roctool vs. Ekinops SA | Roctool vs. Lexibook Linguistic Electronic |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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