Correlation Between Intersport Polska and WIG 30
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By analyzing existing cross correlation between Intersport Polska SA and WIG 30, you can compare the effects of market volatilities on Intersport Polska and WIG 30 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 Intersport Polska with a short position of WIG 30. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intersport Polska and WIG 30.
Diversification Opportunities for Intersport Polska and WIG 30
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Intersport and WIG is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Intersport Polska SA and WIG 30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WIG 30 and Intersport Polska 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 Intersport Polska SA are associated (or correlated) with WIG 30. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WIG 30 has no effect on the direction of Intersport Polska i.e., Intersport Polska and WIG 30 go up and down completely randomly.
Pair Corralation between Intersport Polska and WIG 30
Assuming the 90 days trading horizon Intersport Polska SA is expected to generate 3.63 times more return on investment than WIG 30. However, Intersport Polska is 3.63 times more volatile than WIG 30. It trades about 0.02 of its potential returns per unit of risk. WIG 30 is currently generating about -0.07 per unit of risk. If you would invest 71.00 in Intersport Polska SA on August 28, 2024 and sell it today you would lose (1.00) from holding Intersport Polska SA or give up 1.41% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Intersport Polska SA vs. WIG 30
Performance |
| Timeline |
Intersport Polska and WIG 30 Volatility Contrast
Predicted Return Density |
| Returns |
Intersport Polska SA
Pair trading matchups for Intersport Polska
WIG 30
Pair trading matchups for WIG 30
Pair Trading with Intersport Polska and WIG 30
The main advantage of trading using opposite Intersport Polska and WIG 30 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intersport Polska position performs unexpectedly, WIG 30 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 WIG 30 will offset losses from the drop in WIG 30's long position.| Intersport Polska vs. Asseco Business Solutions | Intersport Polska vs. Detalion Games SA | Intersport Polska vs. Asseco South Eastern | Intersport Polska vs. Movie Games SA |
| WIG 30 vs. Movie Games SA | WIG 30 vs. Medicofarma Biotech SA | WIG 30 vs. Enter Air SA | WIG 30 vs. Intersport Polska SA |
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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