Correlation Between TELES Informationstech and TERADATA
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By analyzing existing cross correlation between TELES Informationstechnologien AG and TERADATA, you can compare the effects of market volatilities on TELES Informationstech and TERADATA 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 TELES Informationstech with a short position of TERADATA. Check out your portfolio center. Please also check ongoing floating volatility patterns of TELES Informationstech and TERADATA.
Diversification Opportunities for TELES Informationstech and TERADATA
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between TELES and TERADATA is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding TELES Informationstechnologien and TERADATA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TERADATA and TELES Informationstech 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 TELES Informationstechnologien AG are associated (or correlated) with TERADATA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TERADATA has no effect on the direction of TELES Informationstech i.e., TELES Informationstech and TERADATA go up and down completely randomly.
Pair Corralation between TELES Informationstech and TERADATA
Assuming the 90 days trading horizon TELES Informationstechnologien AG is expected to under-perform the TERADATA. In addition to that, TELES Informationstech is 1.72 times more volatile than TERADATA. It trades about -0.19 of its total potential returns per unit of risk. TERADATA is currently generating about -0.04 per unit of volatility. If you would invest 3,000 in TERADATA on September 1, 2024 and sell it today you would lose (60.00) from holding TERADATA or give up 2.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
TELES Informationstechnologien vs. TERADATA
Performance |
| Timeline |
| TELES Informationstech |
| TERADATA |
TELES Informationstech and TERADATA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TELES Informationstech and TERADATA
The main advantage of trading using opposite TELES Informationstech and TERADATA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TELES Informationstech position performs unexpectedly, TERADATA 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 TERADATA will offset losses from the drop in TERADATA's long position.| TELES Informationstech vs. Motorola Solutions | TELES Informationstech vs. Nokia | TELES Informationstech vs. ZTE Corporation | TELES Informationstech vs. Hewlett Packard Enterprise |
| TERADATA vs. LIFENET INSURANCE CO | TERADATA vs. Check Point Software | TERADATA vs. REVO INSURANCE SPA | TERADATA vs. HANOVER INSURANCE |
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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