Correlation Between INTERSHOP Communications and SBI Insurance
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By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and SBI Insurance Group, you can compare the effects of market volatilities on INTERSHOP Communications and SBI Insurance 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 SBI Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and SBI Insurance.
Diversification Opportunities for INTERSHOP Communications and SBI Insurance
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between INTERSHOP and SBI is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and SBI Insurance Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SBI Insurance Group 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 SBI Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SBI Insurance Group has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and SBI Insurance go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and SBI Insurance
Assuming the 90 days trading horizon INTERSHOP Communications Aktiengesellschaft is expected to under-perform the SBI Insurance. In addition to that, INTERSHOP Communications is 1.14 times more volatile than SBI Insurance Group. It trades about -0.21 of its total potential returns per unit of risk. SBI Insurance Group is currently generating about 0.23 per unit of volatility. If you would invest 565.00 in SBI Insurance Group on August 31, 2024 and sell it today you would earn a total of 40.00 from holding SBI Insurance Group or generate 7.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
INTERSHOP Communications Aktie vs. SBI Insurance Group
Performance |
| Timeline |
| INTERSHOP Communications |
| SBI Insurance Group |
INTERSHOP Communications and SBI Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and SBI Insurance
The main advantage of trading using opposite INTERSHOP Communications and SBI Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, SBI Insurance 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 SBI Insurance will offset losses from the drop in SBI Insurance's long position.| INTERSHOP Communications vs. Aegean Airlines SA | INTERSHOP Communications vs. INTER CARS SA | INTERSHOP Communications vs. Grupo Carso SAB | INTERSHOP Communications vs. United Airlines Holdings |
| SBI Insurance vs. SALESFORCE INC CDR | SBI Insurance vs. Lamar Advertising | SBI Insurance vs. UET United Electronic | SBI Insurance vs. Electronic Arts |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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