Correlation Between INTERSHOP Communications and PT Global
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By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and PT Global Mediacom, you can compare the effects of market volatilities on INTERSHOP Communications and PT Global 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 INTERSHOP Communications with a short position of PT Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and PT Global.
Diversification Opportunities for INTERSHOP Communications and PT Global
-0.64 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between INTERSHOP and 06L is -0.64. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and PT Global Mediacom in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PT Global Mediacom and INTERSHOP Communications 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 INTERSHOP Communications Aktiengesellschaft are associated (or correlated) with PT Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PT Global Mediacom has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and PT Global go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and PT Global
If you would invest 0.75 in PT Global Mediacom on August 31, 2024 and sell it today you would earn a total of 0.00 from holding PT Global Mediacom or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
INTERSHOP Communications Aktie vs. PT Global Mediacom
Performance |
| Timeline |
| INTERSHOP Communications |
| PT Global Mediacom |
INTERSHOP Communications and PT Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and PT Global
The main advantage of trading using opposite INTERSHOP Communications and PT Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, PT Global 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 PT Global will offset losses from the drop in PT Global's long position.| INTERSHOP Communications vs. Aegean Airlines SA | INTERSHOP Communications vs. INTER CARS SA | INTERSHOP Communications vs. Grupo Carso SAB | INTERSHOP Communications vs. United Airlines Holdings |
| PT Global vs. Netflix | PT Global vs. Warner Music Group | PT Global vs. ViacomCBS | PT Global vs. Superior Plus Corp |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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