Correlation Between Chuangs China and INTERSHOP Communications
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By analyzing existing cross correlation between Chuangs China Investments and INTERSHOP Communications Aktiengesellschaft, you can compare the effects of market volatilities on Chuangs China 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 Chuangs China with a short position of INTERSHOP Communications. Check out your portfolio center. Please also check ongoing floating volatility patterns of Chuangs China and INTERSHOP Communications.
Diversification Opportunities for Chuangs China and INTERSHOP Communications
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Chuangs and INTERSHOP is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Chuangs China Investments and INTERSHOP Communications Aktie in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTERSHOP Communications and Chuangs China 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 Chuangs China Investments 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 Chuangs China i.e., Chuangs China and INTERSHOP Communications go up and down completely randomly.
Pair Corralation between Chuangs China and INTERSHOP Communications
If you would invest 175.00 in INTERSHOP Communications Aktiengesellschaft on November 3, 2024 and sell it today you would earn a total of 5.00 from holding INTERSHOP Communications Aktiengesellschaft or generate 2.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Chuangs China Investments vs. INTERSHOP Communications Aktie
Performance |
| Timeline |
| Chuangs China Investments |
| INTERSHOP Communications |
Chuangs China and INTERSHOP Communications Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Chuangs China and INTERSHOP Communications
The main advantage of trading using opposite Chuangs China and INTERSHOP Communications positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Chuangs China 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.| Chuangs China vs. X FAB Silicon Foundries | Chuangs China vs. TRI CHEMICAL LABORATINC | Chuangs China vs. INDO RAMA SYNTHETIC | Chuangs China vs. CITY OFFICE REIT |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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