Correlation Between IMAGIN MEDICAL and Deutsche Telekom
Can any of the company-specific risk be diversified away by investing in both IMAGIN MEDICAL and Deutsche Telekom at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining IMAGIN MEDICAL and Deutsche Telekom into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between IMAGIN MEDICAL INC and Deutsche Telekom AG, you can compare the effects of market volatilities on IMAGIN MEDICAL and Deutsche Telekom 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 IMAGIN MEDICAL with a short position of Deutsche Telekom. Check out your portfolio center. Please also check ongoing floating volatility patterns of IMAGIN MEDICAL and Deutsche Telekom.
Diversification Opportunities for IMAGIN MEDICAL and Deutsche Telekom
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between IMAGIN and Deutsche is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding IMAGIN MEDICAL INC and Deutsche Telekom AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Deutsche Telekom and IMAGIN MEDICAL 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 IMAGIN MEDICAL INC are associated (or correlated) with Deutsche Telekom. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Deutsche Telekom has no effect on the direction of IMAGIN MEDICAL i.e., IMAGIN MEDICAL and Deutsche Telekom go up and down completely randomly.
Pair Corralation between IMAGIN MEDICAL and Deutsche Telekom
If you would invest 2,884 in Deutsche Telekom AG on October 31, 2024 and sell it today you would earn a total of 180.00 from holding Deutsche Telekom AG or generate 6.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
IMAGIN MEDICAL INC vs. Deutsche Telekom AG
Performance |
| Timeline |
| IMAGIN MEDICAL INC |
| Deutsche Telekom |
IMAGIN MEDICAL and Deutsche Telekom Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IMAGIN MEDICAL and Deutsche Telekom
The main advantage of trading using opposite IMAGIN MEDICAL and Deutsche Telekom positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IMAGIN MEDICAL position performs unexpectedly, Deutsche Telekom 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 Deutsche Telekom will offset losses from the drop in Deutsche Telekom's long position.| IMAGIN MEDICAL vs. Comba Telecom Systems | IMAGIN MEDICAL vs. Spirent Communications plc | IMAGIN MEDICAL vs. China Communications Services | IMAGIN MEDICAL vs. HUTCHISON TELECOMM |
| Deutsche Telekom vs. Corporate Office Properties | Deutsche Telekom vs. Stag Industrial | Deutsche Telekom vs. CENTURIA OFFICE REIT | Deutsche Telekom vs. alstria office REIT AG |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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