Correlation Between SIVERS SEMICONDUCTORS and TELES Informationstech
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By analyzing existing cross correlation between SIVERS SEMICONDUCTORS AB and TELES Informationstechnologien AG, you can compare the effects of market volatilities on SIVERS SEMICONDUCTORS and TELES Informationstech 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 SIVERS SEMICONDUCTORS with a short position of TELES Informationstech. Check out your portfolio center. Please also check ongoing floating volatility patterns of SIVERS SEMICONDUCTORS and TELES Informationstech.
Diversification Opportunities for SIVERS SEMICONDUCTORS and TELES Informationstech
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between SIVERS and TELES is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding SIVERS SEMICONDUCTORS AB and TELES Informationstechnologien in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TELES Informationstech and SIVERS SEMICONDUCTORS 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 SIVERS SEMICONDUCTORS AB are associated (or correlated) with TELES Informationstech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TELES Informationstech has no effect on the direction of SIVERS SEMICONDUCTORS i.e., SIVERS SEMICONDUCTORS and TELES Informationstech go up and down completely randomly.
Pair Corralation between SIVERS SEMICONDUCTORS and TELES Informationstech
Assuming the 90 days horizon SIVERS SEMICONDUCTORS AB is expected to generate 2.48 times more return on investment than TELES Informationstech. However, SIVERS SEMICONDUCTORS is 2.48 times more volatile than TELES Informationstechnologien AG. It trades about 0.23 of its potential returns per unit of risk. TELES Informationstechnologien AG is currently generating about -0.09 per unit of risk. If you would invest 16.00 in SIVERS SEMICONDUCTORS AB on September 20, 2024 and sell it today you would earn a total of 8.00 from holding SIVERS SEMICONDUCTORS AB or generate 50.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
SIVERS SEMICONDUCTORS AB vs. TELES Informationstechnologien
Performance |
| Timeline |
| SIVERS SEMICONDUCTORS |
| TELES Informationstech |
SIVERS SEMICONDUCTORS and TELES Informationstech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SIVERS SEMICONDUCTORS and TELES Informationstech
The main advantage of trading using opposite SIVERS SEMICONDUCTORS and TELES Informationstech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SIVERS SEMICONDUCTORS position performs unexpectedly, TELES Informationstech 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 TELES Informationstech will offset losses from the drop in TELES Informationstech's long position.| SIVERS SEMICONDUCTORS vs. Taiwan Semiconductor Manufacturing | SIVERS SEMICONDUCTORS vs. Broadcom | SIVERS SEMICONDUCTORS vs. Superior Plus Corp | SIVERS SEMICONDUCTORS vs. Norsk Hydro ASA |
| TELES Informationstech vs. Cisco Systems | TELES Informationstech vs. Nokia | TELES Informationstech vs. Superior Plus Corp | TELES Informationstech vs. SIVERS SEMICONDUCTORS AB |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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