Correlation Between SARTORIUS and Becton Dickinson

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

By analyzing existing cross correlation between SARTORIUS AG UNSPADR and Becton Dickinson and, you can compare the effects of market volatilities on SARTORIUS and Becton Dickinson 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 SARTORIUS with a short position of Becton Dickinson. Check out your portfolio center. Please also check ongoing floating volatility patterns of SARTORIUS and Becton Dickinson.

Diversification Opportunities for SARTORIUS and Becton Dickinson

0.0

Correlation Coefficient

SARTORIUS  Becton Dickinson

Pay attention - limited upside

The 3 months correlation between SARTORIUS and Becton is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SARTORIUS AG UNSPADR and Becton Dickinson and in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Becton Dickinson and SARTORIUS 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 SARTORIUS AG UNSPADR are associated (or correlated) with Becton Dickinson. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Becton Dickinson has no effect on the direction of SARTORIUS i.e., SARTORIUS and Becton Dickinson go up and down completely randomly.

Pair Corralation between SARTORIUS and Becton Dickinson

If you would invest (100.00) in Becton Dickinson and on April 23, 2025 and sell it today you would earn a total of  100.00  from holding Becton Dickinson and or generate -100.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

SARTORIUS AG UNSPADR  vs.  Becton Dickinson and

SARTORIUS AG UNSPADR

Risk-Adjusted Performance

Very Weak

Over the last 90 days SARTORIUS AG UNSPADR has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest fragile performance, the Stock's basic indicators remain stable and the current disturbance on Wall Street may also be a sign of long-run gains for the company stockholders.

Becton Dickinson

Risk-Adjusted Performance

Very Weak

Over the last 90 days Becton Dickinson and has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable basic indicators, Becton Dickinson is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with SARTORIUS and Becton Dickinson

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

The idea behind SARTORIUS AG UNSPADR and Becton Dickinson and 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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.