Correlation Between SFCCN and NH Foods
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By analyzing existing cross correlation between SFCCN 53 13 MAY 28 and NH Foods Ltd, you can compare the effects of market volatilities on SFCCN and NH Foods 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 SFCCN with a short position of NH Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of SFCCN and NH Foods.
Diversification Opportunities for SFCCN and NH Foods
Pay attention - limited upside
The 3 months correlation between SFCCN and NIPMY is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SFCCN 53 13 MAY 28 and NH Foods Ltd in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NH Foods and SFCCN 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 SFCCN 53 13 MAY 28 are associated (or correlated) with NH Foods. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NH Foods has no effect on the direction of SFCCN i.e., SFCCN and NH Foods go up and down completely randomly.
Pair Corralation between SFCCN and NH Foods
If you would invest 9,743 in SFCCN 53 13 MAY 28 on December 5, 2024 and sell it today you would earn a total of 160.00 from holding SFCCN 53 13 MAY 28 or generate 1.64% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 23.81% |
Values | Daily Returns |
SFCCN 53 13 MAY 28 vs. NH Foods Ltd
Performance |
Timeline |
SFCCN 53 13 |
NH Foods |
SFCCN and NH Foods Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with SFCCN and NH Foods
The main advantage of trading using opposite SFCCN and NH Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SFCCN position performs unexpectedly, NH Foods 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 NH Foods will offset losses from the drop in NH Foods' long position.SFCCN vs. RCI Hospitality Holdings | SFCCN vs. Skechers USA | SFCCN vs. Eastern Co | SFCCN vs. Summit Hotel Properties |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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