Correlation Between T MOBILE and INTERSHOP Communications
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By analyzing existing cross correlation between T MOBILE INCDL 00001 and INTERSHOP Communications Aktiengesellschaft, you can compare the effects of market volatilities on T MOBILE 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 T MOBILE with a short position of INTERSHOP Communications. Check out your portfolio center. Please also check ongoing floating volatility patterns of T MOBILE and INTERSHOP Communications.
Diversification Opportunities for T MOBILE and INTERSHOP Communications
0.78 | Correlation Coefficient |
Poor diversification
The 3 months correlation between TM5 and INTERSHOP is 0.78. Overlapping area represents the amount of risk that can be diversified away by holding T MOBILE INCDL 00001 and INTERSHOP Communications Aktie in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTERSHOP Communications and T MOBILE 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 T MOBILE INCDL 00001 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 T MOBILE i.e., T MOBILE and INTERSHOP Communications go up and down completely randomly.
Pair Corralation between T MOBILE and INTERSHOP Communications
Assuming the 90 days trading horizon T MOBILE INCDL 00001 is expected to generate 0.83 times more return on investment than INTERSHOP Communications. However, T MOBILE INCDL 00001 is 1.2 times less risky than INTERSHOP Communications. It trades about 0.01 of its potential returns per unit of risk. INTERSHOP Communications Aktiengesellschaft is currently generating about -0.04 per unit of risk. If you would invest 22,295 in T MOBILE INCDL 00001 on September 12, 2024 and sell it today you would earn a total of 35.00 from holding T MOBILE INCDL 00001 or generate 0.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
T MOBILE INCDL 00001 vs. INTERSHOP Communications Aktie
Performance |
| Timeline |
| T MOBILE INCDL |
| INTERSHOP Communications |
T MOBILE and INTERSHOP Communications Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with T MOBILE and INTERSHOP Communications
The main advantage of trading using opposite T MOBILE and INTERSHOP Communications positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if T MOBILE 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.| T MOBILE vs. VARIOUS EATERIES LS | T MOBILE vs. Hemisphere Energy Corp | T MOBILE vs. Darden Restaurants | T MOBILE vs. Ribbon Communications |
| 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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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