Correlation Between INTERSHOP Communications and HF FOODS
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By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and HF FOODS GRP, you can compare the effects of market volatilities on INTERSHOP Communications and HF FOODS 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 HF FOODS. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and HF FOODS.
Diversification Opportunities for INTERSHOP Communications and HF FOODS
0.31 | Correlation Coefficient |
Weak diversification
The 3 months correlation between INTERSHOP and 3GX is 0.31. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and HF FOODS GRP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HF FOODS GRP 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 HF FOODS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HF FOODS GRP has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and HF FOODS go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and HF FOODS
Assuming the 90 days trading horizon INTERSHOP Communications Aktiengesellschaft is expected to under-perform the HF FOODS. But the stock apears to be less risky and, when comparing its historical volatility, INTERSHOP Communications Aktiengesellschaft is 1.09 times less risky than HF FOODS. The stock trades about -0.11 of its potential returns per unit of risk. The HF FOODS GRP is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest 316.00 in HF FOODS GRP on September 20, 2024 and sell it today you would earn a total of 30.00 from holding HF FOODS GRP or generate 9.49% 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. HF FOODS GRP
Performance |
| Timeline |
| INTERSHOP Communications |
| HF FOODS GRP |
INTERSHOP Communications and HF FOODS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and HF FOODS
The main advantage of trading using opposite INTERSHOP Communications and HF FOODS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, HF FOODS 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 HF FOODS will offset losses from the drop in HF FOODS's long position.| INTERSHOP Communications vs. Superior Plus Corp | INTERSHOP Communications vs. SIVERS SEMICONDUCTORS AB | INTERSHOP Communications vs. Norsk Hydro ASA | INTERSHOP Communications vs. Reliance Steel Aluminum |
| HF FOODS vs. Metro AG | HF FOODS vs. Superior Plus Corp | HF FOODS vs. SIVERS SEMICONDUCTORS AB | HF FOODS vs. NorAm Drilling AS |
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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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