Correlation Between SGS SA and Apogee Therapeutics,

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

By analyzing existing cross correlation between SGS SA and Apogee Therapeutics, Common, you can compare the effects of market volatilities on SGS SA and Apogee Therapeutics, 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 SGS SA with a short position of Apogee Therapeutics,. Check out your portfolio center. Please also check ongoing floating volatility patterns of SGS SA and Apogee Therapeutics,.

Diversification Opportunities for SGS SA and Apogee Therapeutics,

0.5

Correlation Coefficient

SGS SA  Apogee Therapeutics,

Very weak diversification

The 3 months correlation between SGS and Apogee is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding SGS SA and Apogee Therapeutics, Common in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Apogee Therapeutics, and SGS SA 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 SGS SA are associated (or correlated) with Apogee Therapeutics,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Apogee Therapeutics, has no effect on the direction of SGS SA i.e., SGS SA and Apogee Therapeutics, go up and down completely randomly.

Pair Corralation between SGS SA and Apogee Therapeutics,

Assuming the 90 days horizon SGS SA is expected to generate 29.8 times more return on investment than Apogee Therapeutics,. However, SGS SA is 29.8 times more volatile than Apogee Therapeutics, Common. It trades about 0.12 of its potential returns per unit of risk. Apogee Therapeutics, Common is currently generating about 0.08 per unit of risk. If you would invest  229,975  in SGS SA on October 9, 2024 and sell it today you would lose (219,811) from holding SGS SA or give up 95.58% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Weak
Accuracy	97.33%
Values	Daily Returns

SGS SA  vs.  Apogee Therapeutics, Common

SGS SA

Risk-Adjusted Performance

0 of 100

Very Weak

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

Apogee Therapeutics,

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Apogee Therapeutics, Common has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest uncertain performance, the Stock's technical and fundamental indicators remain sound and the latest tumult on Wall Street may also be a sign of longer-term gains for the firm shareholders.

Pair Trading with SGS SA and Apogee Therapeutics,

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

The idea behind SGS SA and Apogee Therapeutics, Common 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.

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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.