Correlation Between TOTALENERGIES MARKETING and SFS REAL
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By analyzing existing cross correlation between TOTALENERGIES MARKETING NIGERIA and SFS REAL ESTATE, you can compare the effects of market volatilities on TOTALENERGIES MARKETING and SFS REAL 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 TOTALENERGIES MARKETING with a short position of SFS REAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of TOTALENERGIES MARKETING and SFS REAL.
Diversification Opportunities for TOTALENERGIES MARKETING and SFS REAL
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between TOTALENERGIES and SFS is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding TOTALENERGIES MARKETING NIGERI and SFS REAL ESTATE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SFS REAL ESTATE and TOTALENERGIES MARKETING 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 TOTALENERGIES MARKETING NIGERIA are associated (or correlated) with SFS REAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SFS REAL ESTATE has no effect on the direction of TOTALENERGIES MARKETING i.e., TOTALENERGIES MARKETING and SFS REAL go up and down completely randomly.
Pair Corralation between TOTALENERGIES MARKETING and SFS REAL
Assuming the 90 days trading horizon TOTALENERGIES MARKETING NIGERIA is expected to under-perform the SFS REAL. But the stock apears to be less risky and, when comparing its historical volatility, TOTALENERGIES MARKETING NIGERIA is 1.32 times less risky than SFS REAL. The stock trades about -0.01 of its potential returns per unit of risk. The SFS REAL ESTATE is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest 14,835 in SFS REAL ESTATE on June 4, 2025 and sell it today you would earn a total of 15,320 from holding SFS REAL ESTATE or generate 103.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.59% |
| Values | Daily Returns |
TOTALENERGIES MARKETING NIGERI vs. SFS REAL ESTATE
Performance |
| Timeline |
| TOTALENERGIES MARKETING |
| SFS REAL ESTATE |
TOTALENERGIES MARKETING and SFS REAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TOTALENERGIES MARKETING and SFS REAL
The main advantage of trading using opposite TOTALENERGIES MARKETING and SFS REAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TOTALENERGIES MARKETING position performs unexpectedly, SFS REAL 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 SFS REAL will offset losses from the drop in SFS REAL's long position.| TOTALENERGIES MARKETING vs. NEM INSURANCE PLC | TOTALENERGIES MARKETING vs. MULTI TREX INTEGRATED FOODS | TOTALENERGIES MARKETING vs. CUSTODIAN INVESTMENT PLC | TOTALENERGIES MARKETING vs. UNITY BANK PLC |
| SFS REAL vs. JAIZ BANK PLC | SFS REAL vs. AFRICAN ALLIANCE INSURANCE | SFS REAL vs. MULTI TREX INTEGRATED FOODS | SFS REAL vs. FIDELITY BANK PLC |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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