Correlation Between INTERSHOP Communications and Fair Isaac
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By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and Fair Isaac Corp, you can compare the effects of market volatilities on INTERSHOP Communications and Fair Isaac 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 Fair Isaac. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and Fair Isaac.
Diversification Opportunities for INTERSHOP Communications and Fair Isaac
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between INTERSHOP and Fair is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and Fair Isaac Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fair Isaac Corp 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 Fair Isaac. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fair Isaac Corp has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and Fair Isaac go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and Fair Isaac
Assuming the 90 days trading horizon INTERSHOP Communications Aktiengesellschaft is expected to generate 1.01 times more return on investment than Fair Isaac. However, INTERSHOP Communications is 1.01 times more volatile than Fair Isaac Corp. It trades about -0.03 of its potential returns per unit of risk. Fair Isaac Corp is currently generating about -0.3 per unit of risk. If you would invest 180.00 in INTERSHOP Communications Aktiengesellschaft on October 17, 2024 and sell it today you would lose (2.00) from holding INTERSHOP Communications Aktiengesellschaft or give up 1.11% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
INTERSHOP Communications Aktie vs. Fair Isaac Corp
Performance |
Timeline |
INTERSHOP Communications |
Fair Isaac Corp |
INTERSHOP Communications and Fair Isaac Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with INTERSHOP Communications and Fair Isaac
The main advantage of trading using opposite INTERSHOP Communications and Fair Isaac positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, Fair Isaac 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 Fair Isaac will offset losses from the drop in Fair Isaac's long position.INTERSHOP Communications vs. China Railway Construction | INTERSHOP Communications vs. TITAN MACHINERY | INTERSHOP Communications vs. Daito Trust Construction | INTERSHOP Communications vs. NEWELL RUBBERMAID |
Fair Isaac vs. Ribbon Communications | Fair Isaac vs. INTERSHOP Communications Aktiengesellschaft | Fair Isaac vs. Singapore Telecommunications Limited | Fair Isaac vs. HEALTHSTREAM |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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