Correlation Between INTERSHOP Communications and Corporate Travel
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By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and Corporate Travel Management, you can compare the effects of market volatilities on INTERSHOP Communications and Corporate Travel 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 Corporate Travel. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and Corporate Travel.
Diversification Opportunities for INTERSHOP Communications and Corporate Travel
0.33 | Correlation Coefficient |
Weak diversification
The 3 months correlation between INTERSHOP and Corporate is 0.33. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and Corporate Travel Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Corporate Travel Man 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 Corporate Travel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Corporate Travel Man has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and Corporate Travel go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and Corporate Travel
Assuming the 90 days trading horizon INTERSHOP Communications Aktiengesellschaft is expected to under-perform the Corporate Travel. But the stock apears to be less risky and, when comparing its historical volatility, INTERSHOP Communications Aktiengesellschaft is 1.23 times less risky than Corporate Travel. The stock trades about -0.25 of its potential returns per unit of risk. The Corporate Travel Management is currently generating about 0.61 of returns per unit of risk over similar time horizon. If you would invest 690.00 in Corporate Travel Management on September 2, 2024 and sell it today you would earn a total of 165.00 from holding Corporate Travel Management or generate 23.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
INTERSHOP Communications Aktie vs. Corporate Travel Management
Performance |
| Timeline |
| INTERSHOP Communications |
| Corporate Travel Man |
INTERSHOP Communications and Corporate Travel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and Corporate Travel
The main advantage of trading using opposite INTERSHOP Communications and Corporate Travel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, Corporate Travel 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 Corporate Travel will offset losses from the drop in Corporate Travel's long position.| INTERSHOP Communications vs. GRIFFIN MINING LTD | INTERSHOP Communications vs. UMC Electronics Co | INTERSHOP Communications vs. MCEWEN MINING INC | INTERSHOP Communications vs. ELECTRONIC ARTS |
| Corporate Travel vs. Apple Inc | Corporate Travel vs. Apple Inc | Corporate Travel vs. Apple Inc | Corporate Travel vs. Apple Inc |
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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