Correlation Between Singapore Telecommunicatio and INTERSHOP Communications
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By analyzing existing cross correlation between Singapore Telecommunications Limited and INTERSHOP Communications Aktiengesellschaft, you can compare the effects of market volatilities on Singapore Telecommunicatio 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 Singapore Telecommunicatio with a short position of INTERSHOP Communications. Check out your portfolio center. Please also check ongoing floating volatility patterns of Singapore Telecommunicatio and INTERSHOP Communications.
Diversification Opportunities for Singapore Telecommunicatio and INTERSHOP Communications
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Singapore and INTERSHOP is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding Singapore Telecommunications L and INTERSHOP Communications Aktie in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTERSHOP Communications and Singapore Telecommunicatio 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 Singapore Telecommunications Limited 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 Singapore Telecommunicatio i.e., Singapore Telecommunicatio and INTERSHOP Communications go up and down completely randomly.
Pair Corralation between Singapore Telecommunicatio and INTERSHOP Communications
Assuming the 90 days trading horizon Singapore Telecommunications Limited is expected to generate 0.65 times more return on investment than INTERSHOP Communications. However, Singapore Telecommunications Limited is 1.53 times less risky than INTERSHOP Communications. It trades about 0.26 of its potential returns per unit of risk. INTERSHOP Communications Aktiengesellschaft is currently generating about 0.07 per unit of risk. If you would invest 216.00 in Singapore Telecommunications Limited on November 3, 2024 and sell it today you would earn a total of 16.00 from holding Singapore Telecommunications Limited or generate 7.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Singapore Telecommunications L vs. INTERSHOP Communications Aktie
Performance |
| Timeline |
| Singapore Telecommunicatio |
| INTERSHOP Communications |
Singapore Telecommunicatio and INTERSHOP Communications Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Singapore Telecommunicatio and INTERSHOP Communications
The main advantage of trading using opposite Singapore Telecommunicatio and INTERSHOP Communications positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Singapore Telecommunicatio 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.| Singapore Telecommunicatio vs. HAVERTY FURNITURE A | Singapore Telecommunicatio vs. bet at home AG | Singapore Telecommunicatio vs. Broadcom | Singapore Telecommunicatio vs. INVITATION HOMES DL |
| INTERSHOP Communications vs. BAKED GAMES SA | INTERSHOP Communications vs. ECHO INVESTMENT ZY | INTERSHOP Communications vs. OURGAME INTHOLDL 00005 | INTERSHOP Communications vs. SEI INVESTMENTS |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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