Correlation Between INTERSHOP Communications and TRAINLINE PLC
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By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and TRAINLINE PLC LS, you can compare the effects of market volatilities on INTERSHOP Communications and TRAINLINE PLC 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 TRAINLINE PLC. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and TRAINLINE PLC.
Diversification Opportunities for INTERSHOP Communications and TRAINLINE PLC
-0.57 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between INTERSHOP and TRAINLINE is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and TRAINLINE PLC LS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TRAINLINE PLC LS 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 TRAINLINE PLC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TRAINLINE PLC LS has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and TRAINLINE PLC go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and TRAINLINE PLC
Assuming the 90 days trading horizon INTERSHOP Communications Aktiengesellschaft is expected to under-perform the TRAINLINE PLC. In addition to that, INTERSHOP Communications is 1.04 times more volatile than TRAINLINE PLC LS. It trades about -0.01 of its total potential returns per unit of risk. TRAINLINE PLC LS is currently generating about 0.03 per unit of volatility. If you would invest 282.00 in TRAINLINE PLC LS on December 4, 2024 and sell it today you would earn a total of 84.00 from holding TRAINLINE PLC LS or generate 29.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 99.8% |
| Values | Daily Returns |
INTERSHOP Communications Aktie vs. TRAINLINE PLC LS
Performance |
| Timeline |
| INTERSHOP Communications |
| TRAINLINE PLC LS |
INTERSHOP Communications and TRAINLINE PLC Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and TRAINLINE PLC
The main advantage of trading using opposite INTERSHOP Communications and TRAINLINE PLC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, TRAINLINE PLC 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 TRAINLINE PLC will offset losses from the drop in TRAINLINE PLC's long position.| INTERSHOP Communications vs. SOUTHWEST AIRLINES | INTERSHOP Communications vs. TRADELINK ELECTRON | INTERSHOP Communications vs. Indutrade AB | INTERSHOP Communications vs. SINGAPORE AIRLINES |
| TRAINLINE PLC vs. Schweizer Electronic AG | TRAINLINE PLC vs. UET United Electronic | TRAINLINE PLC vs. Wyndham Hotels Resorts | TRAINLINE PLC vs. Richardson Electronics |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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