Correlation Between SCHALTBAU HOLDING and SAN MIGUEL
Can any of the company-specific risk be diversified away by investing in both SCHALTBAU HOLDING and SAN MIGUEL 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 SCHALTBAU HOLDING and SAN MIGUEL into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SCHALTBAU HOLDING and SAN MIGUEL BREWERY, you can compare the effects of market volatilities on SCHALTBAU HOLDING and SAN MIGUEL 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 SCHALTBAU HOLDING with a short position of SAN MIGUEL. Check out your portfolio center. Please also check ongoing floating volatility patterns of SCHALTBAU HOLDING and SAN MIGUEL.
Diversification Opportunities for SCHALTBAU HOLDING and SAN MIGUEL
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between SCHALTBAU and SAN is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding SCHALTBAU HOLDING and SAN MIGUEL BREWERY in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SAN MIGUEL BREWERY and SCHALTBAU HOLDING 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 SCHALTBAU HOLDING are associated (or correlated) with SAN MIGUEL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SAN MIGUEL BREWERY has no effect on the direction of SCHALTBAU HOLDING i.e., SCHALTBAU HOLDING and SAN MIGUEL go up and down completely randomly.
Pair Corralation between SCHALTBAU HOLDING and SAN MIGUEL
Assuming the 90 days trading horizon SCHALTBAU HOLDING is expected to generate 0.58 times more return on investment than SAN MIGUEL. However, SCHALTBAU HOLDING is 1.73 times less risky than SAN MIGUEL. It trades about 0.04 of its potential returns per unit of risk. SAN MIGUEL BREWERY is currently generating about 0.01 per unit of risk. If you would invest 6,500 in SCHALTBAU HOLDING on September 3, 2025 and sell it today you would earn a total of 200.00 from holding SCHALTBAU HOLDING or generate 3.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
SCHALTBAU HOLDING vs. SAN MIGUEL BREWERY
Performance |
| Timeline |
| SCHALTBAU HOLDING |
| SAN MIGUEL BREWERY |
SCHALTBAU HOLDING and SAN MIGUEL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SCHALTBAU HOLDING and SAN MIGUEL
The main advantage of trading using opposite SCHALTBAU HOLDING and SAN MIGUEL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SCHALTBAU HOLDING position performs unexpectedly, SAN MIGUEL 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 SAN MIGUEL will offset losses from the drop in SAN MIGUEL's long position.| SCHALTBAU HOLDING vs. TAL Education Group | SCHALTBAU HOLDING vs. INTERNET INJPADR 1 | SCHALTBAU HOLDING vs. EMBARK EDUCATION LTD | SCHALTBAU HOLDING vs. Cairo Communication SpA |
| SAN MIGUEL vs. OFFICE DEPOT | SAN MIGUEL vs. CARDINAL HEALTH | SAN MIGUEL vs. Life Healthcare Group | SAN MIGUEL vs. Wenzhou Kangning Hospital |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
Other Complementary Tools
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Commodity Directory Find actively traded commodities issued by global exchanges |