Correlation Between INTERSHOP Communications and Atos SE
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By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and Atos SE, you can compare the effects of market volatilities on INTERSHOP Communications and Atos SE 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 Atos SE. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and Atos SE.
Diversification Opportunities for INTERSHOP Communications and Atos SE
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between INTERSHOP and Atos is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and Atos SE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atos SE 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 Atos SE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atos SE has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and Atos SE go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and Atos SE
Assuming the 90 days trading horizon INTERSHOP Communications Aktiengesellschaft is expected to under-perform the Atos SE. But the stock apears to be less risky and, when comparing its historical volatility, INTERSHOP Communications Aktiengesellschaft is 9.5 times less risky than Atos SE. The stock trades about -0.06 of its potential returns per unit of risk. The Atos SE is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 0.18 in Atos SE on October 12, 2024 and sell it today you would earn a total of 0.03 from holding Atos SE or generate 16.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
INTERSHOP Communications Aktie vs. Atos SE
Performance |
| Timeline |
| INTERSHOP Communications |
| Atos SE |
INTERSHOP Communications and Atos SE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and Atos SE
The main advantage of trading using opposite INTERSHOP Communications and Atos SE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, Atos SE 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 Atos SE will offset losses from the drop in Atos SE's long position.| INTERSHOP Communications vs. ONWARD MEDICAL BV | INTERSHOP Communications vs. Grupo Carso SAB | INTERSHOP Communications vs. Diamyd Medical AB | INTERSHOP Communications vs. Planet Fitness |
| Atos SE vs. HK Electric Investments | Atos SE vs. INTERSHOP Communications Aktiengesellschaft | Atos SE vs. Japan Asia Investment | Atos SE vs. PennantPark Investment |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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