Correlation Between INTERSHOP Communications and INDO RAMA
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By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and INDO RAMA SYNTHETIC, you can compare the effects of market volatilities on INTERSHOP Communications and INDO RAMA 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 INDO RAMA. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and INDO RAMA.
Diversification Opportunities for INTERSHOP Communications and INDO RAMA
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between INTERSHOP and INDO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and INDO RAMA SYNTHETIC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INDO RAMA SYNTHETIC 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 INDO RAMA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INDO RAMA SYNTHETIC has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and INDO RAMA go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and INDO RAMA
If you would invest 167.00 in INTERSHOP Communications Aktiengesellschaft on October 14, 2024 and sell it today you would earn a total of 12.00 from holding INTERSHOP Communications Aktiengesellschaft or generate 7.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.36% |
| Values | Daily Returns |
INTERSHOP Communications Aktie vs. INDO RAMA SYNTHETIC
Performance |
| Timeline |
| INTERSHOP Communications |
| INDO RAMA SYNTHETIC |
INTERSHOP Communications and INDO RAMA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and INDO RAMA
The main advantage of trading using opposite INTERSHOP Communications and INDO RAMA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, INDO RAMA 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 INDO RAMA will offset losses from the drop in INDO RAMA's long position.The idea behind INTERSHOP Communications Aktiengesellschaft and INDO RAMA SYNTHETIC pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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