Correlation Between Metalliance and SBF 120
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By analyzing existing cross correlation between Metalliance SA and SBF 120, you can compare the effects of market volatilities on Metalliance and SBF 120 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 Metalliance with a short position of SBF 120. Check out your portfolio center. Please also check ongoing floating volatility patterns of Metalliance and SBF 120.
Diversification Opportunities for Metalliance and SBF 120
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Metalliance and SBF is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Metalliance SA and SBF 120 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SBF 120 and Metalliance 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 Metalliance SA are associated (or correlated) with SBF 120. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SBF 120 has no effect on the direction of Metalliance i.e., Metalliance and SBF 120 go up and down completely randomly.
Pair Corralation between Metalliance and SBF 120
If you would invest 850.00 in Metalliance SA on September 12, 2024 and sell it today you would earn a total of 0.00 from holding Metalliance SA or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Metalliance SA vs. SBF 120
Performance |
Timeline |
Metalliance and SBF 120 Volatility Contrast
Predicted Return Density |
Returns |
Metalliance SA
Pair trading matchups for Metalliance
SBF 120
Pair trading matchups for SBF 120
Pair Trading with Metalliance and SBF 120
The main advantage of trading using opposite Metalliance and SBF 120 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Metalliance position performs unexpectedly, SBF 120 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 SBF 120 will offset losses from the drop in SBF 120's long position.Metalliance vs. Alstom SA | Metalliance vs. Waga Energy SA | Metalliance vs. Groupe Sfpi | Metalliance vs. Nhoa SA |
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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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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