Correlation Between INTERSHOP Communications and GLG LIFE
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By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and GLG LIFE TECH, you can compare the effects of market volatilities on INTERSHOP Communications and GLG LIFE 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 GLG LIFE. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and GLG LIFE.
Diversification Opportunities for INTERSHOP Communications and GLG LIFE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between INTERSHOP and GLG is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and GLG LIFE TECH in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GLG LIFE TECH 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 GLG LIFE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GLG LIFE TECH has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and GLG LIFE go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and GLG LIFE
If you would invest 192.00 in INTERSHOP Communications Aktiengesellschaft on August 30, 2024 and sell it today you would earn a total of 3.00 from holding INTERSHOP Communications Aktiengesellschaft or generate 1.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
INTERSHOP Communications Aktie vs. GLG LIFE TECH
Performance |
| Timeline |
| INTERSHOP Communications |
| GLG LIFE TECH |
INTERSHOP Communications and GLG LIFE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and GLG LIFE
The main advantage of trading using opposite INTERSHOP Communications and GLG LIFE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, GLG LIFE 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 GLG LIFE will offset losses from the drop in GLG LIFE's long position.| INTERSHOP Communications vs. SAP SE | INTERSHOP Communications vs. Workiva | INTERSHOP Communications vs. Fastly Inc |
| GLG LIFE vs. MITSUBISHI STEEL MFG | GLG LIFE vs. NIPPON STEEL SPADR | GLG LIFE vs. ATOSS SOFTWARE | GLG LIFE vs. Guidewire Software |
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 CEOs Directory module to screen CEOs from public companies around the world.
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