Correlation Between Jacquet Metal and INTERSHOP Communications
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By analyzing existing cross correlation between Jacquet Metal Service and INTERSHOP Communications Aktiengesellschaft, you can compare the effects of market volatilities on Jacquet Metal 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 Jacquet Metal with a short position of INTERSHOP Communications. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jacquet Metal and INTERSHOP Communications.
Diversification Opportunities for Jacquet Metal and INTERSHOP Communications
0.31 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Jacquet and INTERSHOP is 0.31. Overlapping area represents the amount of risk that can be diversified away by holding Jacquet Metal Service and INTERSHOP Communications Aktie in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTERSHOP Communications and Jacquet Metal 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 Jacquet Metal Service 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 Jacquet Metal i.e., Jacquet Metal and INTERSHOP Communications go up and down completely randomly.
Pair Corralation between Jacquet Metal and INTERSHOP Communications
Assuming the 90 days horizon Jacquet Metal Service is expected to generate 0.62 times more return on investment than INTERSHOP Communications. However, Jacquet Metal Service is 1.62 times less risky than INTERSHOP Communications. It trades about 0.01 of its potential returns per unit of risk. INTERSHOP Communications Aktiengesellschaft is currently generating about -0.01 per unit of risk. If you would invest 1,510 in Jacquet Metal Service on September 3, 2024 and sell it today you would earn a total of 80.00 from holding Jacquet Metal Service or generate 5.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jacquet Metal Service vs. INTERSHOP Communications Aktie
Performance |
| Timeline |
| Jacquet Metal Service |
| INTERSHOP Communications |
Jacquet Metal and INTERSHOP Communications Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jacquet Metal and INTERSHOP Communications
The main advantage of trading using opposite Jacquet Metal and INTERSHOP Communications positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jacquet Metal 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.| Jacquet Metal vs. XLMedia PLC | Jacquet Metal vs. Tencent Music Entertainment | Jacquet Metal vs. ATRESMEDIA | Jacquet Metal vs. TOWNSQUARE MEDIA INC |
| 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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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