Correlation Between INTERSHOP Communications and MTI WIRELESS
Specify exactly 2 symbols:
By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and MTI WIRELESS EDGE, you can compare the effects of market volatilities on INTERSHOP Communications and MTI WIRELESS 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 MTI WIRELESS. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and MTI WIRELESS.
Diversification Opportunities for INTERSHOP Communications and MTI WIRELESS
-0.47 | Correlation Coefficient |
Very good diversification
The 3 months correlation between INTERSHOP and MTI is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and MTI WIRELESS EDGE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MTI WIRELESS EDGE 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 MTI WIRELESS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MTI WIRELESS EDGE has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and MTI WIRELESS go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and MTI WIRELESS
Assuming the 90 days trading horizon INTERSHOP Communications Aktiengesellschaft is expected to under-perform the MTI WIRELESS. But the stock apears to be less risky and, when comparing its historical volatility, INTERSHOP Communications Aktiengesellschaft is 2.27 times less risky than MTI WIRELESS. The stock trades about -0.01 of its potential returns per unit of risk. The MTI WIRELESS EDGE is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 32.00 in MTI WIRELESS EDGE on September 14, 2024 and sell it today you would earn a total of 25.00 from holding MTI WIRELESS EDGE or generate 78.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
INTERSHOP Communications Aktie vs. MTI WIRELESS EDGE
Performance |
| Timeline |
| INTERSHOP Communications |
| MTI WIRELESS EDGE |
INTERSHOP Communications and MTI WIRELESS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and MTI WIRELESS
The main advantage of trading using opposite INTERSHOP Communications and MTI WIRELESS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, MTI WIRELESS 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 MTI WIRELESS will offset losses from the drop in MTI WIRELESS's long position.| INTERSHOP Communications vs. Superior Plus Corp | INTERSHOP Communications vs. SIVERS SEMICONDUCTORS AB | INTERSHOP Communications vs. Norsk Hydro ASA | INTERSHOP Communications vs. Reliance Steel Aluminum |
| MTI WIRELESS vs. SPORTING | MTI WIRELESS vs. BlueScope Steel Limited | MTI WIRELESS vs. ANTA SPORTS PRODUCT | MTI WIRELESS vs. CosmoSteel Holdings Limited |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
Other Complementary Tools
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like |