Correlation Between CapitaLand Investment and INTERSHOP Communications
Specify exactly 2 symbols:
By analyzing existing cross correlation between CapitaLand Investment Limited and INTERSHOP Communications Aktiengesellschaft, you can compare the effects of market volatilities on CapitaLand Investment 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 CapitaLand Investment with a short position of INTERSHOP Communications. Check out your portfolio center. Please also check ongoing floating volatility patterns of CapitaLand Investment and INTERSHOP Communications.
Diversification Opportunities for CapitaLand Investment and INTERSHOP Communications
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between CapitaLand and INTERSHOP is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding CapitaLand Investment Limited and INTERSHOP Communications Aktie in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTERSHOP Communications and CapitaLand Investment 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 CapitaLand Investment Limited 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 CapitaLand Investment i.e., CapitaLand Investment and INTERSHOP Communications go up and down completely randomly.
Pair Corralation between CapitaLand Investment and INTERSHOP Communications
Assuming the 90 days horizon CapitaLand Investment is expected to generate 10.8 times less return on investment than INTERSHOP Communications. But when comparing it to its historical volatility, CapitaLand Investment Limited is 1.7 times less risky than INTERSHOP Communications. It trades about 0.0 of its potential returns per unit of risk. INTERSHOP Communications Aktiengesellschaft is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 180.00 in INTERSHOP Communications Aktiengesellschaft on August 29, 2024 and sell it today you would earn a total of 15.00 from holding INTERSHOP Communications Aktiengesellschaft or generate 8.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CapitaLand Investment Limited vs. INTERSHOP Communications Aktie
Performance |
| Timeline |
| CapitaLand Investment |
| INTERSHOP Communications |
CapitaLand Investment and INTERSHOP Communications Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CapitaLand Investment and INTERSHOP Communications
The main advantage of trading using opposite CapitaLand Investment and INTERSHOP Communications positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CapitaLand Investment 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.| CapitaLand Investment vs. Vonovia SE | CapitaLand Investment vs. Wharf Real Estate | CapitaLand Investment vs. Superior Plus Corp | CapitaLand Investment vs. NMI Holdings |
| INTERSHOP Communications vs. SAP SE | INTERSHOP Communications vs. Workiva | INTERSHOP Communications vs. Fastly Inc |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Other Complementary Tools
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings |