Correlation Between SBF 120 and Bassac
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By analyzing existing cross correlation between SBF 120 and Bassac, you can compare the effects of market volatilities on SBF 120 and Bassac 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 Bassac. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Bassac.
Diversification Opportunities for SBF 120 and Bassac
Good diversification
The 3 months correlation between SBF and Bassac is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Bassac in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bassac 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 Bassac. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bassac has no effect on the direction of SBF 120 i.e., SBF 120 and Bassac go up and down completely randomly.
Pair Corralation between SBF 120 and Bassac
Assuming the 90 days trading horizon SBF 120 is expected to generate 0.46 times more return on investment than Bassac. However, SBF 120 is 2.19 times less risky than Bassac. It trades about -0.02 of its potential returns per unit of risk. Bassac is currently generating about -0.02 per unit of risk. If you would invest 564,997 in SBF 120 on September 18, 2024 and sell it today you would lose (7,696) from holding SBF 120 or give up 1.36% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
SBF 120 vs. Bassac
Performance |
Timeline |
SBF 120 and Bassac Volatility Contrast
Predicted Return Density |
Returns |
SBF 120
Pair trading matchups for SBF 120
Bassac
Pair trading matchups for Bassac
Pair Trading with SBF 120 and Bassac
The main advantage of trading using opposite SBF 120 and Bassac positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Bassac 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 Bassac will offset losses from the drop in Bassac's long position.SBF 120 vs. Lexibook Linguistic Electronic | SBF 120 vs. Sartorius Stedim Biotech | SBF 120 vs. Gaztransport Technigaz SAS | SBF 120 vs. Axway Software |
Bassac vs. Piscines Desjoyaux SA | Bassac vs. Akwel SA | Bassac vs. Groupe Guillin SA | Bassac vs. Thermador Groupe 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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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