Correlation Between INTERSHOP Communications and China Communications
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By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and China Communications Services, you can compare the effects of market volatilities on INTERSHOP Communications and China Communications 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 China Communications. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and China Communications.
Diversification Opportunities for INTERSHOP Communications and China Communications
-0.83 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between INTERSHOP and China is -0.83. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and China Communications Services in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Communications 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 China Communications. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Communications has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and China Communications go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and China Communications
Assuming the 90 days trading horizon INTERSHOP Communications Aktiengesellschaft is expected to generate 1.49 times more return on investment than China Communications. However, INTERSHOP Communications is 1.49 times more volatile than China Communications Services. It trades about 0.07 of its potential returns per unit of risk. China Communications Services is currently generating about -0.06 per unit of risk. If you would invest 175.00 in INTERSHOP Communications Aktiengesellschaft on November 3, 2024 and sell it today you would earn a total of 5.00 from holding INTERSHOP Communications Aktiengesellschaft or generate 2.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 95.65% |
| Values | Daily Returns |
INTERSHOP Communications Aktie vs. China Communications Services
Performance |
| Timeline |
| INTERSHOP Communications |
| China Communications |
INTERSHOP Communications and China Communications Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and China Communications
The main advantage of trading using opposite INTERSHOP Communications and China Communications positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, China Communications 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 China Communications will offset losses from the drop in China Communications' long position.| INTERSHOP Communications vs. BAKED GAMES SA | INTERSHOP Communications vs. ECHO INVESTMENT ZY | INTERSHOP Communications vs. OURGAME INTHOLDL 00005 | INTERSHOP Communications vs. SEI INVESTMENTS |
| China Communications vs. T Mobile | China Communications vs. China Mobile Limited | China Communications vs. Verizon Communications | China Communications vs. ATT Inc |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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