Correlation Between INDOFOOD AGRI and INTERSHOP Communications
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By analyzing existing cross correlation between INDOFOOD AGRI RES and INTERSHOP Communications Aktiengesellschaft, you can compare the effects of market volatilities on INDOFOOD AGRI 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 INDOFOOD AGRI with a short position of INTERSHOP Communications. Check out your portfolio center. Please also check ongoing floating volatility patterns of INDOFOOD AGRI and INTERSHOP Communications.
Diversification Opportunities for INDOFOOD AGRI and INTERSHOP Communications
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between INDOFOOD and INTERSHOP is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding INDOFOOD AGRI RES and INTERSHOP Communications Aktie in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTERSHOP Communications and INDOFOOD AGRI 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 INDOFOOD AGRI RES 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 INDOFOOD AGRI i.e., INDOFOOD AGRI and INTERSHOP Communications go up and down completely randomly.
Pair Corralation between INDOFOOD AGRI and INTERSHOP Communications
Assuming the 90 days trading horizon INDOFOOD AGRI RES is expected to generate 0.64 times more return on investment than INTERSHOP Communications. However, INDOFOOD AGRI RES is 1.55 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 -0.11 per unit of risk. If you would invest 22.00 in INDOFOOD AGRI RES on October 11, 2024 and sell it today you would earn a total of 0.00 from holding INDOFOOD AGRI RES or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
INDOFOOD AGRI RES vs. INTERSHOP Communications Aktie
Performance |
| Timeline |
| INDOFOOD AGRI RES |
| INTERSHOP Communications |
INDOFOOD AGRI and INTERSHOP Communications Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INDOFOOD AGRI and INTERSHOP Communications
The main advantage of trading using opposite INDOFOOD AGRI and INTERSHOP Communications positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INDOFOOD AGRI 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.| INDOFOOD AGRI vs. PACIFIC ONLINE | INDOFOOD AGRI vs. BJs Restaurants | INDOFOOD AGRI vs. SYSTEMAIR AB | INDOFOOD AGRI vs. ETFS Coffee ETC |
| INTERSHOP Communications vs. ZhongAn Online P | INTERSHOP Communications vs. Lamar Advertising | INTERSHOP Communications vs. PREMIER FOODS | INTERSHOP Communications vs. INDOFOOD AGRI RES |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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