Correlation Between SBF 120 and Teleperformance
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By analyzing existing cross correlation between SBF 120 and Teleperformance SE, you can compare the effects of market volatilities on SBF 120 and Teleperformance 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 Teleperformance. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Teleperformance.
Diversification Opportunities for SBF 120 and Teleperformance
-0.9 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SBF and Teleperformance is -0.9. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Teleperformance SE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Teleperformance SE 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 Teleperformance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Teleperformance SE has no effect on the direction of SBF 120 i.e., SBF 120 and Teleperformance go up and down completely randomly.
Pair Corralation between SBF 120 and Teleperformance
Assuming the 90 days trading horizon SBF 120 is expected to under-perform the Teleperformance. But the index apears to be less risky and, when comparing its historical volatility, SBF 120 is 5.77 times less risky than Teleperformance. The index trades about -0.13 of its potential returns per unit of risk. The Teleperformance SE is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 9,122 in Teleperformance SE on February 5, 2024 and sell it today you would earn a total of 364.00 from holding Teleperformance SE or generate 3.99% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Significant |
Accuracy | 95.24% |
Values | Daily Returns |
SBF 120 vs. Teleperformance SE
Performance |
Timeline |
SBF 120 and Teleperformance Volatility Contrast
Predicted Return Density |
Returns |
SBF 120
Pair trading matchups for SBF 120
Teleperformance SE
Pair trading matchups for Teleperformance
Pair Trading with SBF 120 and Teleperformance
The main advantage of trading using opposite SBF 120 and Teleperformance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Teleperformance 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 Teleperformance will offset losses from the drop in Teleperformance's long position.SBF 120 vs. Fiducial Office Solutions | SBF 120 vs. Groupe Pizzorno Environnement | SBF 120 vs. Hoteles Bestprice SA | SBF 120 vs. Boiron SA |
Teleperformance vs. Accor S A | Teleperformance vs. Publicis Groupe SA | Teleperformance vs. Legrand SA | Teleperformance vs. Pernod Ricard 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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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