Correlation Between FANDIFI TECHNOLOGY and INTERSHOP Communications
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By analyzing existing cross correlation between FANDIFI TECHNOLOGY P and INTERSHOP Communications Aktiengesellschaft, you can compare the effects of market volatilities on FANDIFI TECHNOLOGY 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 FANDIFI TECHNOLOGY with a short position of INTERSHOP Communications. Check out your portfolio center. Please also check ongoing floating volatility patterns of FANDIFI TECHNOLOGY and INTERSHOP Communications.
Diversification Opportunities for FANDIFI TECHNOLOGY and INTERSHOP Communications
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between FANDIFI and INTERSHOP is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding FANDIFI TECHNOLOGY P and INTERSHOP Communications Aktie in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTERSHOP Communications and FANDIFI TECHNOLOGY 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 FANDIFI TECHNOLOGY P 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 FANDIFI TECHNOLOGY i.e., FANDIFI TECHNOLOGY and INTERSHOP Communications go up and down completely randomly.
Pair Corralation between FANDIFI TECHNOLOGY and INTERSHOP Communications
Assuming the 90 days horizon FANDIFI TECHNOLOGY P is expected to generate 9.26 times more return on investment than INTERSHOP Communications. However, FANDIFI TECHNOLOGY is 9.26 times more volatile than INTERSHOP Communications Aktiengesellschaft. It trades about 0.04 of its potential returns per unit of risk. INTERSHOP Communications Aktiengesellschaft is currently generating about -0.02 per unit of risk. If you would invest 3.90 in FANDIFI TECHNOLOGY P on October 27, 2024 and sell it today you would lose (3.85) from holding FANDIFI TECHNOLOGY P or give up 98.72% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.8% |
| Values | Daily Returns |
FANDIFI TECHNOLOGY P vs. INTERSHOP Communications Aktie
Performance |
| Timeline |
| FANDIFI TECHNOLOGY |
| INTERSHOP Communications |
FANDIFI TECHNOLOGY and INTERSHOP Communications Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FANDIFI TECHNOLOGY and INTERSHOP Communications
The main advantage of trading using opposite FANDIFI TECHNOLOGY and INTERSHOP Communications positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FANDIFI TECHNOLOGY 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.| FANDIFI TECHNOLOGY vs. Uber Technologies | FANDIFI TECHNOLOGY vs. PagerDuty | FANDIFI TECHNOLOGY vs. Rocket Internet SE | FANDIFI TECHNOLOGY vs. Fastly Inc |
| INTERSHOP Communications vs. Uber Technologies | INTERSHOP Communications vs. PagerDuty | INTERSHOP Communications vs. Rocket Internet SE | INTERSHOP Communications vs. Fastly Inc |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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