Correlation Between BNP Paribas and SSB Bancorp
Can any of the company-specific risk be diversified away by investing in both BNP Paribas and SSB Bancorp 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 BNP Paribas and SSB Bancorp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between BNP Paribas SA and SSB Bancorp, you can compare the effects of market volatilities on BNP Paribas and SSB Bancorp 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 BNP Paribas with a short position of SSB Bancorp. Check out your portfolio center. Please also check ongoing floating volatility patterns of BNP Paribas and SSB Bancorp.
Diversification Opportunities for BNP Paribas and SSB Bancorp
-0.56 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between BNP and SSB is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding BNP Paribas SA and SSB Bancorp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SSB Bancorp and BNP Paribas 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 BNP Paribas SA are associated (or correlated) with SSB Bancorp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SSB Bancorp has no effect on the direction of BNP Paribas i.e., BNP Paribas and SSB Bancorp go up and down completely randomly.
Pair Corralation between BNP Paribas and SSB Bancorp
Assuming the 90 days horizon BNP Paribas SA is expected to under-perform the SSB Bancorp. In addition to that, BNP Paribas is 2.6 times more volatile than SSB Bancorp. It trades about -0.09 of its total potential returns per unit of risk. SSB Bancorp is currently generating about 0.11 per unit of volatility. If you would invest 1,025 in SSB Bancorp on August 20, 2025 and sell it today you would earn a total of 75.00 from holding SSB Bancorp or generate 7.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
BNP Paribas SA vs. SSB Bancorp
Performance |
| Timeline |
| BNP Paribas SA |
| SSB Bancorp |
BNP Paribas and SSB Bancorp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BNP Paribas and SSB Bancorp
The main advantage of trading using opposite BNP Paribas and SSB Bancorp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BNP Paribas position performs unexpectedly, SSB Bancorp 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 SSB Bancorp will offset losses from the drop in SSB Bancorp's long position.| BNP Paribas vs. Postal Savings Bank | BNP Paribas vs. Mizuho Financial Group | BNP Paribas vs. Erste Group Bank | BNP Paribas vs. State Bank of |
| SSB Bancorp vs. Quaint Oak Bancorp | SSB Bancorp vs. Enterprise Financial Services | SSB Bancorp vs. Apollo Bancorp | SSB Bancorp vs. Commercial National Financial |
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.
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