Correlation Between Summit Bank and SD Standard
Can any of the company-specific risk be diversified away by investing in both Summit Bank and SD Standard 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 Summit Bank and SD Standard into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Summit Bank Group and SD Standard Drilling, you can compare the effects of market volatilities on Summit Bank and SD Standard 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 Summit Bank with a short position of SD Standard. Check out your portfolio center. Please also check ongoing floating volatility patterns of Summit Bank and SD Standard.
Diversification Opportunities for Summit Bank and SD Standard
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Summit and SDSDF is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Summit Bank Group and SD Standard Drilling in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SD Standard Drilling and Summit Bank 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 Summit Bank Group are associated (or correlated) with SD Standard. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SD Standard Drilling has no effect on the direction of Summit Bank i.e., Summit Bank and SD Standard go up and down completely randomly.
Pair Corralation between Summit Bank and SD Standard
If you would invest 1,400 in Summit Bank Group on June 12, 2025 and sell it today you would earn a total of 200.00 from holding Summit Bank Group or generate 14.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 96.83% |
| Values | Daily Returns |
Summit Bank Group vs. SD Standard Drilling
Performance |
| Timeline |
| Summit Bank Group |
| SD Standard Drilling |
Summit Bank and SD Standard Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Summit Bank and SD Standard
The main advantage of trading using opposite Summit Bank and SD Standard positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Summit Bank position performs unexpectedly, SD Standard 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 SD Standard will offset losses from the drop in SD Standard's long position.| Summit Bank vs. MNB Holdings Corp | Summit Bank vs. Oregon Bancorp | Summit Bank vs. Peoples Bank of | Summit Bank vs. Oregon Pacific Bancorp |
| SD Standard vs. Starry Sea Acquisition | SD Standard vs. Indigo Acquisition Corp | SD Standard vs. Aldel Financial II | SD Standard vs. KeyCorp |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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