Correlation Between INTERSHOP Communications and MAGNUM MINING
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By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and MAGNUM MINING EXP, you can compare the effects of market volatilities on INTERSHOP Communications and MAGNUM MINING 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 MAGNUM MINING. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and MAGNUM MINING.
Diversification Opportunities for INTERSHOP Communications and MAGNUM MINING
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between INTERSHOP and MAGNUM is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and MAGNUM MINING EXP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MAGNUM MINING EXP 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 MAGNUM MINING. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MAGNUM MINING EXP has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and MAGNUM MINING go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and MAGNUM MINING
If you would invest 179.00 in INTERSHOP Communications Aktiengesellschaft on September 3, 2024 and sell it today you would earn a total of 6.00 from holding INTERSHOP Communications Aktiengesellschaft or generate 3.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.46% |
| Values | Daily Returns |
INTERSHOP Communications Aktie vs. MAGNUM MINING EXP
Performance |
| Timeline |
| INTERSHOP Communications |
| MAGNUM MINING EXP |
INTERSHOP Communications and MAGNUM MINING Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and MAGNUM MINING
The main advantage of trading using opposite INTERSHOP Communications and MAGNUM MINING positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, MAGNUM MINING 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 MAGNUM MINING will offset losses from the drop in MAGNUM MINING's long position.| INTERSHOP Communications vs. Neinor Homes SA | INTERSHOP Communications vs. STRAYER EDUCATION | INTERSHOP Communications vs. Aedas Homes SA | INTERSHOP Communications vs. Corporate Office Properties |
| MAGNUM MINING vs. CHINA EDUCATION GROUP | MAGNUM MINING vs. INTERSHOP Communications Aktiengesellschaft | MAGNUM MINING vs. STRAYER EDUCATION | MAGNUM MINING vs. EEDUCATION ALBERT AB |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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