Correlation Between TRAINLINE PLC and INTERSHOP Communications
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By analyzing existing cross correlation between TRAINLINE PLC LS and INTERSHOP Communications Aktiengesellschaft, you can compare the effects of market volatilities on TRAINLINE PLC and INTERSHOP Communications 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 TRAINLINE PLC with a short position of INTERSHOP Communications. Check out your portfolio center. Please also check ongoing floating volatility patterns of TRAINLINE PLC and INTERSHOP Communications.
Diversification Opportunities for TRAINLINE PLC and INTERSHOP Communications
-0.57 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between TRAINLINE and INTERSHOP is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding TRAINLINE PLC LS and INTERSHOP Communications Aktie in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTERSHOP Communications and TRAINLINE PLC 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 TRAINLINE PLC LS are associated (or correlated) with INTERSHOP Communications. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INTERSHOP Communications has no effect on the direction of TRAINLINE PLC i.e., TRAINLINE PLC and INTERSHOP Communications go up and down completely randomly.
Pair Corralation between TRAINLINE PLC and INTERSHOP Communications
Assuming the 90 days trading horizon TRAINLINE PLC LS is expected to generate 0.96 times more return on investment than INTERSHOP Communications. However, TRAINLINE PLC LS is 1.04 times less risky than INTERSHOP Communications. It trades about 0.03 of its potential returns per unit of risk. INTERSHOP Communications Aktiengesellschaft is currently generating about -0.01 per unit of risk. If you would invest 282.00 in TRAINLINE PLC LS on December 4, 2024 and sell it today you would earn a total of 84.00 from holding TRAINLINE PLC LS or generate 29.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 99.8% |
| Values | Daily Returns |
TRAINLINE PLC LS vs. INTERSHOP Communications Aktie
Performance |
| Timeline |
| TRAINLINE PLC LS |
| INTERSHOP Communications |
TRAINLINE PLC and INTERSHOP Communications Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TRAINLINE PLC and INTERSHOP Communications
The main advantage of trading using opposite TRAINLINE PLC and INTERSHOP Communications positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TRAINLINE PLC position performs unexpectedly, INTERSHOP Communications 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 INTERSHOP Communications will offset losses from the drop in INTERSHOP Communications' long position.| TRAINLINE PLC vs. Schweizer Electronic AG | TRAINLINE PLC vs. UET United Electronic | TRAINLINE PLC vs. Wyndham Hotels Resorts | TRAINLINE PLC vs. Richardson Electronics |
| INTERSHOP Communications vs. SOUTHWEST AIRLINES | INTERSHOP Communications vs. TRADELINK ELECTRON | INTERSHOP Communications vs. Indutrade AB | INTERSHOP Communications vs. SINGAPORE AIRLINES |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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