Correlation Between INTERSHOP Communications and PVH Corp
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By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and PVH Corp, you can compare the effects of market volatilities on INTERSHOP Communications and PVH Corp 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 PVH Corp. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and PVH Corp.
Diversification Opportunities for INTERSHOP Communications and PVH Corp
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between INTERSHOP and PVH is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and PVH Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PVH 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 PVH Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PVH Corp has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and PVH Corp go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and PVH Corp
Assuming the 90 days trading horizon INTERSHOP Communications Aktiengesellschaft is expected to under-perform the PVH Corp. In addition to that, INTERSHOP Communications is 1.18 times more volatile than PVH Corp. It trades about 0.0 of its total potential returns per unit of risk. PVH Corp is currently generating about 0.0 per unit of volatility. If you would invest 10,984 in PVH Corp on September 20, 2024 and sell it today you would lose (549.00) from holding PVH Corp or give up 5.0% 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. PVH Corp
Performance |
| Timeline |
| INTERSHOP Communications |
| PVH Corp |
INTERSHOP Communications and PVH Corp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and PVH Corp
The main advantage of trading using opposite INTERSHOP Communications and PVH Corp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, PVH Corp 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 PVH Corp will offset losses from the drop in PVH Corp'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 |
| PVH Corp vs. CHINA TELECOM H | PVH Corp vs. INTERSHOP Communications Aktiengesellschaft | PVH Corp vs. Dairy Farm International | PVH Corp vs. Associated British 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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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