Correlation Between HANCOCK WHITNEY and INTERSHOP Communications
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By analyzing existing cross correlation between HANCOCK WHITNEY SUNTS and INTERSHOP Communications Aktiengesellschaft, you can compare the effects of market volatilities on HANCOCK WHITNEY 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 HANCOCK WHITNEY with a short position of INTERSHOP Communications. Check out your portfolio center. Please also check ongoing floating volatility patterns of HANCOCK WHITNEY and INTERSHOP Communications.
Diversification Opportunities for HANCOCK WHITNEY and INTERSHOP Communications
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between HANCOCK and INTERSHOP is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding HANCOCK WHITNEY SUNTS and INTERSHOP Communications Aktie in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTERSHOP Communications and HANCOCK WHITNEY 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 HANCOCK WHITNEY SUNTS 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 HANCOCK WHITNEY i.e., HANCOCK WHITNEY and INTERSHOP Communications go up and down completely randomly.
Pair Corralation between HANCOCK WHITNEY and INTERSHOP Communications
Assuming the 90 days trading horizon HANCOCK WHITNEY is expected to generate 2.27 times less return on investment than INTERSHOP Communications. But when comparing it to its historical volatility, HANCOCK WHITNEY SUNTS is 1.38 times less risky than INTERSHOP Communications. It trades about 0.06 of its potential returns per unit of risk. INTERSHOP Communications Aktiengesellschaft is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 165.00 in INTERSHOP Communications Aktiengesellschaft on September 12, 2024 and sell it today you would earn a total of 25.00 from holding INTERSHOP Communications Aktiengesellschaft or generate 15.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
HANCOCK WHITNEY SUNTS vs. INTERSHOP Communications Aktie
Performance |
| Timeline |
| HANCOCK WHITNEY SUNTS |
| INTERSHOP Communications |
HANCOCK WHITNEY and INTERSHOP Communications Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HANCOCK WHITNEY and INTERSHOP Communications
The main advantage of trading using opposite HANCOCK WHITNEY and INTERSHOP Communications positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HANCOCK WHITNEY 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.| HANCOCK WHITNEY vs. Jacquet Metal Service | HANCOCK WHITNEY vs. Aluminum of | HANCOCK WHITNEY vs. VULCAN MATERIALS | HANCOCK WHITNEY vs. AM EAGLE OUTFITTERS |
| INTERSHOP Communications vs. Salesforce | INTERSHOP Communications vs. Superior Plus Corp | INTERSHOP Communications vs. SIVERS SEMICONDUCTORS AB | INTERSHOP Communications vs. Norsk Hydro ASA |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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