Correlation Between INTERSHOP Communications and T-Mobile
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By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and T Mobile, you can compare the effects of market volatilities on INTERSHOP Communications and T-Mobile 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 T-Mobile. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and T-Mobile.
Diversification Opportunities for INTERSHOP Communications and T-Mobile
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between INTERSHOP and T-Mobile is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and T Mobile in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on T Mobile 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 T-Mobile. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of T Mobile has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and T-Mobile go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and T-Mobile
Assuming the 90 days trading horizon INTERSHOP Communications Aktiengesellschaft is expected to under-perform the T-Mobile. But the stock apears to be less risky and, when comparing its historical volatility, INTERSHOP Communications Aktiengesellschaft is 1.13 times less risky than T-Mobile. The stock trades about -0.12 of its potential returns per unit of risk. The T Mobile is currently generating about 0.37 of returns per unit of risk over similar time horizon. If you would invest 20,891 in T Mobile on August 31, 2024 and sell it today you would earn a total of 2,659 from holding T Mobile or generate 12.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
INTERSHOP Communications Aktie vs. T Mobile
Performance |
| Timeline |
| INTERSHOP Communications |
| T Mobile |
INTERSHOP Communications and T-Mobile Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and T-Mobile
The main advantage of trading using opposite INTERSHOP Communications and T-Mobile positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, T-Mobile 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 T-Mobile will offset losses from the drop in T-Mobile's long position.| INTERSHOP Communications vs. Aegean Airlines SA | INTERSHOP Communications vs. INTER CARS SA | INTERSHOP Communications vs. Grupo Carso SAB | INTERSHOP Communications vs. United Airlines Holdings |
| T-Mobile vs. ATT Inc | T-Mobile vs. Deutsche Telekom AG | T-Mobile vs. Superior Plus Corp | T-Mobile vs. NMI Holdings |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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