Correlation Between INTERSHOP Communications and FANDIFI TECHNOLOGY
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By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and FANDIFI TECHNOLOGY P, you can compare the effects of market volatilities on INTERSHOP Communications and FANDIFI TECHNOLOGY 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 FANDIFI TECHNOLOGY. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and FANDIFI TECHNOLOGY.
Diversification Opportunities for INTERSHOP Communications and FANDIFI TECHNOLOGY
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between INTERSHOP and FANDIFI is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and FANDIFI TECHNOLOGY P in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FANDIFI TECHNOLOGY 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 FANDIFI TECHNOLOGY. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FANDIFI TECHNOLOGY has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and FANDIFI TECHNOLOGY go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and FANDIFI TECHNOLOGY
Assuming the 90 days trading horizon INTERSHOP Communications Aktiengesellschaft is expected to under-perform the FANDIFI TECHNOLOGY. But the stock apears to be less risky and, when comparing its historical volatility, INTERSHOP Communications Aktiengesellschaft is 9.26 times less risky than FANDIFI TECHNOLOGY. The stock trades about -0.02 of its potential returns per unit of risk. The FANDIFI TECHNOLOGY P is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 3.90 in FANDIFI TECHNOLOGY P on October 27, 2024 and sell it today you would lose (3.85) from holding FANDIFI TECHNOLOGY P or give up 98.72% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.8% |
| Values | Daily Returns |
INTERSHOP Communications Aktie vs. FANDIFI TECHNOLOGY P
Performance |
| Timeline |
| INTERSHOP Communications |
| FANDIFI TECHNOLOGY |
INTERSHOP Communications and FANDIFI TECHNOLOGY Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and FANDIFI TECHNOLOGY
The main advantage of trading using opposite INTERSHOP Communications and FANDIFI TECHNOLOGY positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, FANDIFI TECHNOLOGY 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 FANDIFI TECHNOLOGY will offset losses from the drop in FANDIFI TECHNOLOGY's long position.| INTERSHOP Communications vs. Uber Technologies | INTERSHOP Communications vs. PagerDuty | INTERSHOP Communications vs. Rocket Internet SE | INTERSHOP Communications vs. Fastly Inc |
| FANDIFI TECHNOLOGY vs. Uber Technologies | FANDIFI TECHNOLOGY vs. PagerDuty | FANDIFI TECHNOLOGY vs. Rocket Internet SE | FANDIFI TECHNOLOGY vs. Fastly Inc |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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