Correlation Between SFS REAL and ASO SAVINGS

Can any of the company-specific risk be diversified away by investing in both SFS REAL and ASO SAVINGS 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 SFS REAL and ASO SAVINGS into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between SFS REAL ESTATE and ASO SAVINGS AND, you can compare the effects of market volatilities on SFS REAL and ASO SAVINGS 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 ASO SAVINGS. Check out your portfolio center. Please also check ongoing floating volatility patterns of SFS REAL and ASO SAVINGS.

Diversification Opportunities for SFS REAL and ASO SAVINGS

0.0

Correlation Coefficient

SFS REAL  ASO SAVINGS

Pay attention - limited upside

The 3 months correlation between SFS and ASO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SFS REAL ESTATE and ASO SAVINGS AND in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ASO SAVINGS AND 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 ASO SAVINGS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ASO SAVINGS AND has no effect on the direction of SFS REAL i.e., SFS REAL and ASO SAVINGS go up and down completely randomly.

Pair Corralation between SFS REAL and ASO SAVINGS

If you would invest  20,600  in SFS REAL ESTATE on May 8, 2025 and sell it today you would earn a total of  4,325  from holding SFS REAL ESTATE or generate 21.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

SFS REAL ESTATE  vs.  ASO SAVINGS AND

SFS REAL ESTATE

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in SFS REAL ESTATE are ranked lower than 14 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively uncertain forward indicators, SFS REAL unveiled solid returns over the last few months and may actually be approaching a breakup point.

ASO SAVINGS AND

Risk-Adjusted Performance

Weakest

Over the last 90 days ASO SAVINGS AND has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fairly strong technical and fundamental indicators, ASO SAVINGS is not utilizing all of its potentials. The current stock price confusion, may contribute to short-horizon losses for the traders.

Pair Trading with SFS REAL and ASO SAVINGS

The main advantage of trading using opposite SFS REAL and ASO SAVINGS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SFS REAL position performs unexpectedly, ASO SAVINGS 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 ASO SAVINGS will offset losses from the drop in ASO SAVINGS's long position.

The idea behind SFS REAL ESTATE and ASO SAVINGS AND pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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.