Correlation Between SBF 120 and Groupe Partouche
Specify exactly 2 symbols:
By analyzing existing cross correlation between SBF 120 and Groupe Partouche SA, you can compare the effects of market volatilities on SBF 120 and Groupe Partouche 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 Groupe Partouche. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Groupe Partouche.
Diversification Opportunities for SBF 120 and Groupe Partouche
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between SBF and Groupe is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Groupe Partouche SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Groupe Partouche 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 Groupe Partouche. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Groupe Partouche has no effect on the direction of SBF 120 i.e., SBF 120 and Groupe Partouche go up and down completely randomly.
Pair Corralation between SBF 120 and Groupe Partouche
Assuming the 90 days trading horizon SBF 120 is expected to generate 0.81 times more return on investment than Groupe Partouche. However, SBF 120 is 1.23 times less risky than Groupe Partouche. It trades about 0.25 of its potential returns per unit of risk. Groupe Partouche SA is currently generating about -0.09 per unit of risk. If you would invest 547,904 in SBF 120 on December 2, 2024 and sell it today you would earn a total of 64,338 from holding SBF 120 or generate 11.74% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
SBF 120 vs. Groupe Partouche SA
Performance |
Timeline |
SBF 120 and Groupe Partouche Volatility Contrast
Predicted Return Density |
Returns |
SBF 120
Pair trading matchups for SBF 120
Groupe Partouche SA
Pair trading matchups for Groupe Partouche
Pair Trading with SBF 120 and Groupe Partouche
The main advantage of trading using opposite SBF 120 and Groupe Partouche positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Groupe Partouche 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 Groupe Partouche will offset losses from the drop in Groupe Partouche's long position.SBF 120 vs. Gaztransport Technigaz SAS | SBF 120 vs. Aures Technologies SA | SBF 120 vs. Exail Technologies SA | SBF 120 vs. Fill Up Media |
Groupe Partouche vs. Fonciere Inea | Groupe Partouche vs. Immobiliere Dassault SA | Groupe Partouche vs. Societe de la | Groupe Partouche vs. Patrimoine et Commerce |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Other Complementary Tools
Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance |