Correlation Between INTERSHOP Communications and COMINTL BANK
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By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and COMINTL BANK ADR1, you can compare the effects of market volatilities on INTERSHOP Communications and COMINTL BANK 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 COMINTL BANK. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and COMINTL BANK.
Diversification Opportunities for INTERSHOP Communications and COMINTL BANK
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between INTERSHOP and COMINTL is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and COMINTL BANK ADR1 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on COMINTL BANK ADR1 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 COMINTL BANK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of COMINTL BANK ADR1 has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and COMINTL BANK go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and COMINTL BANK
Assuming the 90 days trading horizon INTERSHOP Communications Aktiengesellschaft is expected to generate 1.09 times more return on investment than COMINTL BANK. However, INTERSHOP Communications is 1.09 times more volatile than COMINTL BANK ADR1. It trades about 0.04 of its potential returns per unit of risk. COMINTL BANK ADR1 is currently generating about 0.04 per unit of risk. If you would invest 147.00 in INTERSHOP Communications Aktiengesellschaft on September 14, 2024 and sell it today you would earn a total of 28.00 from holding INTERSHOP Communications Aktiengesellschaft or generate 19.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
INTERSHOP Communications Aktie vs. COMINTL BANK ADR1
Performance |
| Timeline |
| INTERSHOP Communications |
| COMINTL BANK ADR1 |
INTERSHOP Communications and COMINTL BANK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and COMINTL BANK
The main advantage of trading using opposite INTERSHOP Communications and COMINTL BANK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, COMINTL BANK 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 COMINTL BANK will offset losses from the drop in COMINTL BANK'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 |
| COMINTL BANK vs. Superior Plus Corp | COMINTL BANK vs. SIVERS SEMICONDUCTORS AB | COMINTL BANK vs. CHINA HUARONG ENERHD 50 | COMINTL BANK vs. NORDIC HALIBUT 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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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