Correlation Between TELES Informationstech and SAP SE
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By analyzing existing cross correlation between TELES Informationstechnologien AG and SAP SE, you can compare the effects of market volatilities on TELES Informationstech and SAP SE 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 SAP SE. Check out your portfolio center. Please also check ongoing floating volatility patterns of TELES Informationstech and SAP SE.
Diversification Opportunities for TELES Informationstech and SAP SE
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between TELES and SAP is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding TELES Informationstechnologien and SAP SE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SAP SE 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 SAP SE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SAP SE has no effect on the direction of TELES Informationstech i.e., TELES Informationstech and SAP SE go up and down completely randomly.
Pair Corralation between TELES Informationstech and SAP SE
Assuming the 90 days trading horizon TELES Informationstechnologien AG is expected to under-perform the SAP SE. In addition to that, TELES Informationstech is 2.69 times more volatile than SAP SE. It trades about -0.06 of its total potential returns per unit of risk. SAP SE is currently generating about 0.12 per unit of volatility. If you would invest 9,517 in SAP SE on September 12, 2024 and sell it today you would earn a total of 14,683 from holding SAP SE or generate 154.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 98.61% |
| Values | Daily Returns |
TELES Informationstechnologien vs. SAP SE
Performance |
| Timeline |
| TELES Informationstech |
| SAP SE |
TELES Informationstech and SAP SE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TELES Informationstech and SAP SE
The main advantage of trading using opposite TELES Informationstech and SAP SE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TELES Informationstech position performs unexpectedly, SAP SE 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 SAP SE will offset losses from the drop in SAP SE's long position.| TELES Informationstech vs. Cisco Systems | TELES Informationstech vs. Nokia | TELES Informationstech vs. Hewlett Packard Enterprise | TELES Informationstech vs. Superior Plus Corp |
| SAP SE vs. DATANG INTL POW | SAP SE vs. ASURE SOFTWARE | SAP SE vs. Public Storage | SAP SE vs. TELES Informationstechnologien AG |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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