Correlation Between CHINA TELECOM and INTERSHOP Communications
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By analyzing existing cross correlation between CHINA TELECOM H and INTERSHOP Communications Aktiengesellschaft, you can compare the effects of market volatilities on CHINA TELECOM 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 CHINA TELECOM with a short position of INTERSHOP Communications. Check out your portfolio center. Please also check ongoing floating volatility patterns of CHINA TELECOM and INTERSHOP Communications.
Diversification Opportunities for CHINA TELECOM and INTERSHOP Communications
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between CHINA and INTERSHOP is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding CHINA TELECOM H and INTERSHOP Communications Aktie in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTERSHOP Communications and CHINA TELECOM 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 CHINA TELECOM H 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 CHINA TELECOM i.e., CHINA TELECOM and INTERSHOP Communications go up and down completely randomly.
Pair Corralation between CHINA TELECOM and INTERSHOP Communications
If you would invest 52.00 in CHINA TELECOM H on September 13, 2024 and sell it today you would earn a total of 0.00 from holding CHINA TELECOM H or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CHINA TELECOM H vs. INTERSHOP Communications Aktie
Performance |
| Timeline |
| CHINA TELECOM H |
| INTERSHOP Communications |
CHINA TELECOM and INTERSHOP Communications Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CHINA TELECOM and INTERSHOP Communications
The main advantage of trading using opposite CHINA TELECOM and INTERSHOP Communications positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CHINA TELECOM 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.| CHINA TELECOM vs. Apple Inc | CHINA TELECOM vs. Apple Inc | CHINA TELECOM vs. Apple Inc | CHINA TELECOM vs. Apple Inc |
| 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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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