Correlation Between INTERSHOP Communications and Mobilezone Holding
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By analyzing existing cross correlation between INTERSHOP Communications Aktiengesellschaft and Mobilezone Holding AG, you can compare the effects of market volatilities on INTERSHOP Communications and Mobilezone Holding 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 INTERSHOP Communications with a short position of Mobilezone Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERSHOP Communications and Mobilezone Holding.
Diversification Opportunities for INTERSHOP Communications and Mobilezone Holding
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between INTERSHOP and Mobilezone is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding INTERSHOP Communications Aktie and Mobilezone Holding AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mobilezone Holding and INTERSHOP Communications 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 INTERSHOP Communications Aktiengesellschaft are associated (or correlated) with Mobilezone Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mobilezone Holding has no effect on the direction of INTERSHOP Communications i.e., INTERSHOP Communications and Mobilezone Holding go up and down completely randomly.
Pair Corralation between INTERSHOP Communications and Mobilezone Holding
If you would invest 170.00 in INTERSHOP Communications Aktiengesellschaft on September 24, 2024 and sell it today you would earn a total of 6.00 from holding INTERSHOP Communications Aktiengesellschaft or generate 3.53% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 98.46% |
Values | Daily Returns |
INTERSHOP Communications Aktie vs. Mobilezone Holding AG
Performance |
Timeline |
INTERSHOP Communications |
Mobilezone Holding |
INTERSHOP Communications and Mobilezone Holding Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with INTERSHOP Communications and Mobilezone Holding
The main advantage of trading using opposite INTERSHOP Communications and Mobilezone Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERSHOP Communications position performs unexpectedly, Mobilezone Holding 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 Mobilezone Holding will offset losses from the drop in Mobilezone Holding's long position.INTERSHOP Communications vs. Salesforce | INTERSHOP Communications vs. SAP SE | INTERSHOP Communications vs. Uber Technologies | INTERSHOP Communications vs. Nemetschek AG ON |
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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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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