Correlation Between INTERSHOP Communications and Webster Financial
Specify exactly 2 symbols:
By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and Webster Financial, you can compare the effects of market volatilities on INTERSHOP Communications and Webster Financial 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 Webster Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and Webster Financial.
Diversification Opportunities for INTERSHOP Communications and Webster Financial
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between INTERSHOP and Webster is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and Webster Financial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Webster Financial 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 Webster Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Webster Financial has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and Webster Financial go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and Webster Financial
Assuming the 90 days trading horizon INTERSHOP Communications Aktiengesellschaft is expected to under-perform the Webster Financial. In addition to that, INTERSHOP Communications is 1.23 times more volatile than Webster Financial. It trades about -0.01 of its total potential returns per unit of risk. Webster Financial is currently generating about 0.05 per unit of volatility. If you would invest 3,364 in Webster Financial on December 4, 2024 and sell it today you would earn a total of 2,036 from holding Webster Financial or generate 60.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.8% |
| Values | Daily Returns |
INTERSHOP Communications Aktie vs. Webster Financial
Performance |
| Timeline |
| INTERSHOP Communications |
| Webster Financial |
INTERSHOP Communications and Webster Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and Webster Financial
The main advantage of trading using opposite INTERSHOP Communications and Webster Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, Webster Financial 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 Webster Financial will offset losses from the drop in Webster Financial's long position.| INTERSHOP Communications vs. SOUTHWEST AIRLINES | INTERSHOP Communications vs. TRADELINK ELECTRON | INTERSHOP Communications vs. Indutrade AB | INTERSHOP Communications vs. SINGAPORE AIRLINES |
| Webster Financial vs. Transport International Holdings | Webster Financial vs. Aya Gold Silver | Webster Financial vs. Yanzhou Coal Mining | Webster Financial vs. KAUFMAN ET BROAD |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
Other Complementary Tools
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk |