Correlation Between Omeros and INTERSHOP Communications
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By analyzing existing cross correlation between Omeros and INTERSHOP Communications Aktiengesellschaft, you can compare the effects of market volatilities on Omeros 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 Omeros with a short position of INTERSHOP Communications. Check out your portfolio center. Please also check ongoing floating volatility patterns of Omeros and INTERSHOP Communications.
Diversification Opportunities for Omeros and INTERSHOP Communications
0.5 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Omeros and INTERSHOP is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding Omeros and INTERSHOP Communications Aktie in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTERSHOP Communications and Omeros 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 Omeros 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 Omeros i.e., Omeros and INTERSHOP Communications go up and down completely randomly.
Pair Corralation between Omeros and INTERSHOP Communications
Assuming the 90 days horizon Omeros is expected to generate 3.61 times more return on investment than INTERSHOP Communications. However, Omeros is 3.61 times more volatile than INTERSHOP Communications Aktiengesellschaft. It trades about 0.15 of its potential returns per unit of risk. INTERSHOP Communications Aktiengesellschaft is currently generating about -0.03 per unit of risk. If you would invest 364.00 in Omeros on September 3, 2024 and sell it today you would earn a total of 768.00 from holding Omeros or generate 210.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Omeros vs. INTERSHOP Communications Aktie
Performance |
| Timeline |
| Omeros |
| INTERSHOP Communications |
Omeros and INTERSHOP Communications Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Omeros and INTERSHOP Communications
The main advantage of trading using opposite Omeros and INTERSHOP Communications positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Omeros 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.| Omeros vs. Food Life Companies | Omeros vs. INFORMATION SVC GRP | Omeros vs. Automatic Data Processing | Omeros vs. Information Services International Dentsu |
| INTERSHOP Communications vs. Neinor Homes SA | INTERSHOP Communications vs. STRAYER EDUCATION | INTERSHOP Communications vs. Aedas Homes SA | INTERSHOP Communications vs. Corporate Office Properties |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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