Correlation Between SBF 120 and Ramsay Generale
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By analyzing existing cross correlation between SBF 120 and Ramsay Generale De, you can compare the effects of market volatilities on SBF 120 and Ramsay Generale 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 Ramsay Generale. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Ramsay Generale.
Diversification Opportunities for SBF 120 and Ramsay Generale
-0.78 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SBF and Ramsay is -0.78. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Ramsay Generale De in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ramsay Generale De 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 Ramsay Generale. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ramsay Generale De has no effect on the direction of SBF 120 i.e., SBF 120 and Ramsay Generale go up and down completely randomly.
Pair Corralation between SBF 120 and Ramsay Generale
Assuming the 90 days trading horizon SBF 120 is expected to generate 0.39 times more return on investment than Ramsay Generale. However, SBF 120 is 2.58 times less risky than Ramsay Generale. It trades about -0.2 of its potential returns per unit of risk. Ramsay Generale De is currently generating about -0.24 per unit of risk. If you would invest 616,674 in SBF 120 on February 3, 2024 and sell it today you would lose (17,306) from holding SBF 120 or give up 2.81% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
SBF 120 vs. Ramsay Generale De
Performance |
Timeline |
SBF 120 and Ramsay Generale Volatility Contrast
Predicted Return Density |
Returns |
SBF 120
Pair trading matchups for SBF 120
Ramsay Generale De
Pair trading matchups for Ramsay Generale
Pair Trading with SBF 120 and Ramsay Generale
The main advantage of trading using opposite SBF 120 and Ramsay Generale positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Ramsay Generale 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 Ramsay Generale will offset losses from the drop in Ramsay Generale's long position.SBF 120 vs. Covivio Hotels | SBF 120 vs. Fiducial Office Solutions | SBF 120 vs. Axway Software | SBF 120 vs. Les Hotels Bav |
Ramsay Generale vs. Bonduelle SCA | Ramsay Generale vs. Mtropole Tlvision SA | Ramsay Generale vs. JC Decaux SA | Ramsay Generale vs. Bnteau SA |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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