Correlation Between Lion One and INTERSHOP Communications
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By analyzing existing cross correlation between Lion One Metals and INTERSHOP Communications Aktiengesellschaft, you can compare the effects of market volatilities on Lion One and INTERSHOP Communications 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 Lion One with a short position of INTERSHOP Communications. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lion One and INTERSHOP Communications.
Diversification Opportunities for Lion One and INTERSHOP Communications
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Lion and INTERSHOP is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Lion One Metals and INTERSHOP Communications Aktie in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTERSHOP Communications and Lion One 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 Lion One Metals are associated (or correlated) with INTERSHOP Communications. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INTERSHOP Communications has no effect on the direction of Lion One i.e., Lion One and INTERSHOP Communications go up and down completely randomly.
Pair Corralation between Lion One and INTERSHOP Communications
Assuming the 90 days horizon Lion One Metals is expected to under-perform the INTERSHOP Communications. In addition to that, Lion One is 2.07 times more volatile than INTERSHOP Communications Aktiengesellschaft. It trades about -0.12 of its total potential returns per unit of risk. INTERSHOP Communications Aktiengesellschaft is currently generating about -0.16 per unit of volatility. If you would invest 194.00 in INTERSHOP Communications Aktiengesellschaft on September 13, 2024 and sell it today you would lose (13.00) from holding INTERSHOP Communications Aktiengesellschaft or give up 6.7% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lion One Metals vs. INTERSHOP Communications Aktie
Performance |
| Timeline |
| Lion One Metals |
| INTERSHOP Communications |
Lion One and INTERSHOP Communications Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lion One and INTERSHOP Communications
The main advantage of trading using opposite Lion One and INTERSHOP Communications positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lion One position performs unexpectedly, INTERSHOP Communications 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 INTERSHOP Communications will offset losses from the drop in INTERSHOP Communications' long position.| Lion One vs. Franco Nevada | Lion One vs. Superior Plus Corp | Lion One vs. SIVERS SEMICONDUCTORS AB | Lion One vs. Norsk Hydro ASA |
| INTERSHOP Communications vs. Salesforce | INTERSHOP Communications vs. Superior Plus Corp | INTERSHOP Communications vs. SIVERS SEMICONDUCTORS AB | INTERSHOP Communications vs. Norsk Hydro ASA |
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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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