Correlation Between INTERSHOP Communications and QINGCI GAMES
Specify exactly 2 symbols:
By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and QINGCI GAMES INC, you can compare the effects of market volatilities on INTERSHOP Communications and QINGCI GAMES 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 QINGCI GAMES. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and QINGCI GAMES.
Diversification Opportunities for INTERSHOP Communications and QINGCI GAMES
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between INTERSHOP and QINGCI is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and QINGCI GAMES INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on QINGCI GAMES INC 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 QINGCI GAMES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of QINGCI GAMES INC has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and QINGCI GAMES go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and QINGCI GAMES
Assuming the 90 days trading horizon INTERSHOP Communications is expected to generate 3.57 times less return on investment than QINGCI GAMES. But when comparing it to its historical volatility, INTERSHOP Communications Aktiengesellschaft is 1.88 times less risky than QINGCI GAMES. It trades about 0.01 of its potential returns per unit of risk. QINGCI GAMES INC is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 27.00 in QINGCI GAMES INC on August 29, 2024 and sell it today you would earn a total of 0.00 from holding QINGCI GAMES INC or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
INTERSHOP Communications Aktie vs. QINGCI GAMES INC
Performance |
| Timeline |
| INTERSHOP Communications |
| QINGCI GAMES INC |
INTERSHOP Communications and QINGCI GAMES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and QINGCI GAMES
The main advantage of trading using opposite INTERSHOP Communications and QINGCI GAMES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, QINGCI GAMES 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 QINGCI GAMES will offset losses from the drop in QINGCI GAMES's long position.| INTERSHOP Communications vs. Superior Plus Corp | INTERSHOP Communications vs. NMI Holdings | INTERSHOP Communications vs. Origin Agritech | INTERSHOP Communications vs. SIVERS SEMICONDUCTORS 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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
Other Complementary Tools
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Fundamental Analysis View fundamental data based on most recent published financial statements |