Correlation Between INTERSHOP Communications and CHINA TELECOM
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By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and CHINA TELECOM H , you can compare the effects of market volatilities on INTERSHOP Communications and CHINA TELECOM 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 CHINA TELECOM. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and CHINA TELECOM.
Diversification Opportunities for INTERSHOP Communications and CHINA TELECOM
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between INTERSHOP and CHINA is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and CHINA TELECOM H in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CHINA TELECOM H 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 CHINA TELECOM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CHINA TELECOM H has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and CHINA TELECOM go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and CHINA TELECOM
If you would invest 52.00 in CHINA TELECOM H on September 13, 2024 and sell it today you would earn a total of 0.00 from holding CHINA TELECOM H 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. CHINA TELECOM H
Performance |
| Timeline |
| INTERSHOP Communications |
| CHINA TELECOM H |
INTERSHOP Communications and CHINA TELECOM Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERSHOP Communications and CHINA TELECOM
The main advantage of trading using opposite INTERSHOP Communications and CHINA TELECOM positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, CHINA TELECOM 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 CHINA TELECOM will offset losses from the drop in CHINA TELECOM's long position.| INTERSHOP Communications vs. Salesforce | INTERSHOP Communications vs. Superior Plus Corp | INTERSHOP Communications vs. SIVERS SEMICONDUCTORS AB | INTERSHOP Communications vs. Norsk Hydro ASA |
| CHINA TELECOM vs. Apple Inc | CHINA TELECOM vs. Apple Inc | CHINA TELECOM vs. Apple Inc | CHINA TELECOM vs. Apple 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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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