Correlation Between SBF 120 and Trigano SA
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By analyzing existing cross correlation between SBF 120 and Trigano SA, you can compare the effects of market volatilities on SBF 120 and Trigano 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 SBF 120 with a short position of Trigano SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Trigano SA.
Diversification Opportunities for SBF 120 and Trigano SA
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between SBF and Trigano is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Trigano SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Trigano SA 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 Trigano SA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Trigano SA has no effect on the direction of SBF 120 i.e., SBF 120 and Trigano SA go up and down completely randomly.
Pair Corralation between SBF 120 and Trigano SA
Assuming the 90 days trading horizon SBF 120 is expected to generate 0.5 times more return on investment than Trigano SA. However, SBF 120 is 1.99 times less risky than Trigano SA. It trades about -0.04 of its potential returns per unit of risk. Trigano SA is currently generating about -0.33 per unit of risk. If you would invest 614,632 in SBF 120 on January 30, 2024 and sell it today you would lose (3,617) from holding SBF 120 or give up 0.59% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
SBF 120 vs. Trigano SA
Performance |
Timeline |
SBF 120 and Trigano SA Volatility Contrast
Predicted Return Density |
Returns |
SBF 120
Pair trading matchups for SBF 120
Trigano SA
Pair trading matchups for Trigano SA
Pair Trading with SBF 120 and Trigano SA
The main advantage of trading using opposite SBF 120 and Trigano SA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Trigano 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 Trigano SA will offset losses from the drop in Trigano SA's long position.SBF 120 vs. Exail Technologies SA | SBF 120 vs. Technip Energies BV | SBF 120 vs. Covivio Hotels | SBF 120 vs. Hitechpros |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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