Correlation Between WIG 30 and Intersport Polska
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By analyzing existing cross correlation between WIG 30 and Intersport Polska SA, you can compare the effects of market volatilities on WIG 30 and Intersport Polska 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 WIG 30 with a short position of Intersport Polska. Check out your portfolio center. Please also check ongoing floating volatility patterns of WIG 30 and Intersport Polska.
Diversification Opportunities for WIG 30 and Intersport Polska
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between WIG and Intersport is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding WIG 30 and Intersport Polska SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intersport Polska and WIG 30 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 WIG 30 are associated (or correlated) with Intersport Polska. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intersport Polska has no effect on the direction of WIG 30 i.e., WIG 30 and Intersport Polska go up and down completely randomly.
Pair Corralation between WIG 30 and Intersport Polska
Assuming the 90 days trading horizon WIG 30 is expected to under-perform the Intersport Polska. But the index apears to be less risky and, when comparing its historical volatility, WIG 30 is 3.37 times less risky than Intersport Polska. The index trades about -0.03 of its potential returns per unit of risk. The Intersport Polska SA is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 61.00 in Intersport Polska SA on August 25, 2024 and sell it today you would earn a total of 1.00 from holding Intersport Polska SA or generate 1.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
WIG 30 vs. Intersport Polska SA
Performance |
| Timeline |
WIG 30 and Intersport Polska Volatility Contrast
Predicted Return Density |
| Returns |
WIG 30
Pair trading matchups for WIG 30
Intersport Polska SA
Pair trading matchups for Intersport Polska
Pair Trading with WIG 30 and Intersport Polska
The main advantage of trading using opposite WIG 30 and Intersport Polska positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WIG 30 position performs unexpectedly, Intersport Polska 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 Intersport Polska will offset losses from the drop in Intersport Polska's long position.| WIG 30 vs. Intersport Polska SA | WIG 30 vs. Cloud Technologies SA | WIG 30 vs. GreenX Metals | WIG 30 vs. Mlk Foods Public |
| Intersport Polska vs. Asseco Business Solutions | Intersport Polska vs. Detalion Games SA | Intersport Polska vs. Asseco South Eastern | Intersport Polska vs. Movie Games SA |
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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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