Correlation Between INTERSHOP Communications and Sun Life
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By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and Sun Life Financial, you can compare the effects of market volatilities on INTERSHOP Communications and Sun Life 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 Sun Life. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and Sun Life.
Diversification Opportunities for INTERSHOP Communications and Sun Life
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between INTERSHOP and Sun is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and Sun Life Financial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sun Life Financial 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 Sun Life. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sun Life Financial has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and Sun Life go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and Sun Life
Assuming the 90 days trading horizon INTERSHOP Communications Aktiengesellschaft is expected to under-perform the Sun Life. In addition to that, INTERSHOP Communications is 2.51 times more volatile than Sun Life Financial. It trades about -0.02 of its total potential returns per unit of risk. Sun Life Financial is currently generating about 0.07 per unit of volatility. If you would invest 3,932 in Sun Life Financial on October 14, 2024 and sell it today you would earn a total of 1,718 from holding Sun Life Financial or generate 43.69% 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. Sun Life Financial
Performance |
| Timeline |
| INTERSHOP Communications |
| Sun Life Financial |
INTERSHOP Communications and Sun Life Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and Sun Life
The main advantage of trading using opposite INTERSHOP Communications and Sun Life positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, Sun Life 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 Sun Life will offset losses from the drop in Sun Life's long position.| INTERSHOP Communications vs. Tianjin Capital Environmental | INTERSHOP Communications vs. QUEEN S ROAD | INTERSHOP Communications vs. United States Steel | INTERSHOP Communications vs. TRAINLINE PLC LS |
| Sun Life vs. Global Ship Lease | Sun Life vs. Apollo Investment Corp | Sun Life vs. GRENKELEASING Dusseldorf | Sun Life vs. INTERSHOP Communications Aktiengesellschaft |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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