Correlation Between Thai Beverage and INTERSHOP Communications
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By analyzing existing cross correlation between Thai Beverage Public and INTERSHOP Communications Aktiengesellschaft, you can compare the effects of market volatilities on Thai Beverage 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 Thai Beverage with a short position of INTERSHOP Communications. Check out your portfolio center. Please also check ongoing floating volatility patterns of Thai Beverage and INTERSHOP Communications.
Diversification Opportunities for Thai Beverage and INTERSHOP Communications
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Thai and INTERSHOP is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Thai Beverage Public and INTERSHOP Communications Aktie in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTERSHOP Communications and Thai Beverage 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 Thai Beverage Public 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 Thai Beverage i.e., Thai Beverage and INTERSHOP Communications go up and down completely randomly.
Pair Corralation between Thai Beverage and INTERSHOP Communications
Assuming the 90 days horizon Thai Beverage Public is expected to generate 1.11 times more return on investment than INTERSHOP Communications. However, Thai Beverage is 1.11 times more volatile than INTERSHOP Communications Aktiengesellschaft. It trades about 0.1 of its potential returns per unit of risk. INTERSHOP Communications Aktiengesellschaft is currently generating about -0.16 per unit of risk. If you would invest 35.00 in Thai Beverage Public on September 22, 2024 and sell it today you would earn a total of 2.00 from holding Thai Beverage Public or generate 5.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Thai Beverage Public vs. INTERSHOP Communications Aktie
Performance |
| Timeline |
| Thai Beverage Public |
| INTERSHOP Communications |
Thai Beverage and INTERSHOP Communications Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Thai Beverage and INTERSHOP Communications
The main advantage of trading using opposite Thai Beverage and INTERSHOP Communications positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Thai Beverage 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.| Thai Beverage vs. USWE SPORTS AB | Thai Beverage vs. DISTRICT METALS | Thai Beverage vs. PLAYSTUDIOS A DL 0001 | Thai Beverage vs. ARISTOCRAT LEISURE |
| INTERSHOP Communications vs. Thai Beverage Public | INTERSHOP Communications vs. Ross Stores | INTERSHOP Communications vs. THAI BEVERAGE | INTERSHOP Communications vs. JIAHUA STORES |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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