Correlation Between SFS REAL and NORTHERN NIGERIA
Specify exactly 2 symbols:
By analyzing existing cross correlation between SFS REAL ESTATE and NORTHERN NIGERIA FLOUR, you can compare the effects of market volatilities on SFS REAL and NORTHERN NIGERIA 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 SFS REAL with a short position of NORTHERN NIGERIA. Check out your portfolio center. Please also check ongoing floating volatility patterns of SFS REAL and NORTHERN NIGERIA.
Diversification Opportunities for SFS REAL and NORTHERN NIGERIA
-0.6 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between SFS and NORTHERN is -0.6. Overlapping area represents the amount of risk that can be diversified away by holding SFS REAL ESTATE and NORTHERN NIGERIA FLOUR in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NORTHERN NIGERIA FLOUR and SFS REAL 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 SFS REAL ESTATE are associated (or correlated) with NORTHERN NIGERIA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NORTHERN NIGERIA FLOUR has no effect on the direction of SFS REAL i.e., SFS REAL and NORTHERN NIGERIA go up and down completely randomly.
Pair Corralation between SFS REAL and NORTHERN NIGERIA
Assuming the 90 days trading horizon SFS REAL ESTATE is expected to generate 1.74 times more return on investment than NORTHERN NIGERIA. However, SFS REAL is 1.74 times more volatile than NORTHERN NIGERIA FLOUR. It trades about 0.25 of its potential returns per unit of risk. NORTHERN NIGERIA FLOUR is currently generating about -0.12 per unit of risk. If you would invest 30,155 in SFS REAL ESTATE on September 23, 2025 and sell it today you would earn a total of 11,720 from holding SFS REAL ESTATE or generate 38.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
SFS REAL ESTATE vs. NORTHERN NIGERIA FLOUR
Performance |
| Timeline |
| SFS REAL ESTATE |
| NORTHERN NIGERIA FLOUR |
SFS REAL and NORTHERN NIGERIA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SFS REAL and NORTHERN NIGERIA
The main advantage of trading using opposite SFS REAL and NORTHERN NIGERIA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SFS REAL position performs unexpectedly, NORTHERN NIGERIA 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 NORTHERN NIGERIA will offset losses from the drop in NORTHERN NIGERIA's long position.| SFS REAL vs. INTERNATIONAL ENERGY INSURANCE | SFS REAL vs. CUSTODIAN INVESTMENT PLC | SFS REAL vs. MULTIVERSE MINING AND | SFS REAL vs. AXAMANSARD INSURANCE PLC |
| NORTHERN NIGERIA vs. ZENITH BANK PLC | NORTHERN NIGERIA vs. UNITY BANK PLC | NORTHERN NIGERIA vs. MULTIVERSE MINING AND | NORTHERN NIGERIA vs. INDUSTRIAL MEDICAL GASES |
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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
Other Complementary Tools
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA |