Correlation Between INTERSHOP Communications and Walker Dunlop
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By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and Walker Dunlop, you can compare the effects of market volatilities on INTERSHOP Communications and Walker Dunlop 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 Walker Dunlop. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and Walker Dunlop.
Diversification Opportunities for INTERSHOP Communications and Walker Dunlop
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between INTERSHOP and Walker is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and Walker Dunlop in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Walker Dunlop 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 Walker Dunlop. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Walker Dunlop has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and Walker Dunlop go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and Walker Dunlop
Assuming the 90 days trading horizon INTERSHOP Communications Aktiengesellschaft is expected to under-perform the Walker Dunlop. In addition to that, INTERSHOP Communications is 1.28 times more volatile than Walker Dunlop. It trades about -0.03 of its total potential returns per unit of risk. Walker Dunlop is currently generating about 0.02 per unit of volatility. If you would invest 8,313 in Walker Dunlop on October 30, 2024 and sell it today you would earn a total of 687.00 from holding Walker Dunlop or generate 8.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.8% |
| Values | Daily Returns |
INTERSHOP Communications Aktie vs. Walker Dunlop
Performance |
| Timeline |
| INTERSHOP Communications |
| Walker Dunlop |
INTERSHOP Communications and Walker Dunlop Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and Walker Dunlop
The main advantage of trading using opposite INTERSHOP Communications and Walker Dunlop positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, Walker Dunlop 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 Walker Dunlop will offset losses from the drop in Walker Dunlop's long position.| INTERSHOP Communications vs. Luckin Coffee | INTERSHOP Communications vs. Sabre Insurance Group | INTERSHOP Communications vs. AGF Management Limited | INTERSHOP Communications vs. CEOTRONICS |
| Walker Dunlop vs. GameStop Corp | Walker Dunlop vs. AWILCO DRILLING PLC | Walker Dunlop vs. Corsair Gaming | Walker Dunlop vs. GAMING FAC SA |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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