Correlation Between INTERSHOP Communications and CSSC Offshore
Specify exactly 2 symbols:
By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and CSSC Offshore Marine, you can compare the effects of market volatilities on INTERSHOP Communications and CSSC Offshore 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 CSSC Offshore. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and CSSC Offshore.
Diversification Opportunities for INTERSHOP Communications and CSSC Offshore
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between INTERSHOP and CSSC is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and CSSC Offshore Marine in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CSSC Offshore Marine 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 CSSC Offshore. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CSSC Offshore Marine has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and CSSC Offshore go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and CSSC Offshore
Assuming the 90 days trading horizon INTERSHOP Communications Aktiengesellschaft is expected to generate 1.03 times more return on investment than CSSC Offshore. However, INTERSHOP Communications is 1.03 times more volatile than CSSC Offshore Marine. It trades about -0.09 of its potential returns per unit of risk. CSSC Offshore Marine is currently generating about -0.32 per unit of risk. If you would invest 183.00 in INTERSHOP Communications Aktiengesellschaft on October 19, 2024 and sell it today you would lose (5.00) from holding INTERSHOP Communications Aktiengesellschaft or give up 2.73% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
INTERSHOP Communications Aktie vs. CSSC Offshore Marine
Performance |
| Timeline |
| INTERSHOP Communications |
| CSSC Offshore Marine |
INTERSHOP Communications and CSSC Offshore Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and CSSC Offshore
The main advantage of trading using opposite INTERSHOP Communications and CSSC Offshore positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, CSSC Offshore 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 CSSC Offshore will offset losses from the drop in CSSC Offshore's long position.| INTERSHOP Communications vs. T Mobile | INTERSHOP Communications vs. AGNC INVESTMENT | INTERSHOP Communications vs. ECHO INVESTMENT ZY | INTERSHOP Communications vs. SOCKET MOBILE NEW |
| CSSC Offshore vs. ecotel communication ag | CSSC Offshore vs. TYSON FOODS A | CSSC Offshore vs. INTERSHOP Communications Aktiengesellschaft | CSSC Offshore vs. Lifeway Foods |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
Other Complementary Tools
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance |