Correlation Between Comet Holding and Interroll Holding

Can any of the company-specific risk be diversified away by investing in both Comet Holding and Interroll Holding at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Comet Holding and Interroll Holding into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Comet Holding AG and Interroll Holding AG, you can compare the effects of market volatilities on Comet Holding and Interroll 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 Comet Holding with a short position of Interroll Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Comet Holding and Interroll Holding.

Diversification Opportunities for Comet Holding and Interroll Holding

-0.25

Correlation Coefficient

Comet Holding  Interroll Holding

Very good diversification

The 3 months correlation between Comet and Interroll is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Comet Holding AG and Interroll Holding AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Interroll Holding and Comet Holding 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 Comet Holding AG are associated (or correlated) with Interroll Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Interroll Holding has no effect on the direction of Comet Holding i.e., Comet Holding and Interroll Holding go up and down completely randomly.

Pair Corralation between Comet Holding and Interroll Holding

Assuming the 90 days trading horizon Comet Holding AG is expected to under-perform the Interroll Holding. In addition to that, Comet Holding is 1.42 times more volatile than Interroll Holding AG. It trades about -0.08 of its total potential returns per unit of risk. Interroll Holding AG is currently generating about 0.13 per unit of volatility. If you would invest  194,219  in Interroll Holding AG on May 28, 2025 and sell it today you would earn a total of  37,281  from holding Interroll Holding AG or generate 19.2% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Comet Holding AG  vs.  Interroll Holding AG

Comet Holding AG

Risk-Adjusted Performance

Weakest

Over the last 90 days Comet Holding AG has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's basic indicators remain fairly stable which may send shares a bit higher in September 2025. The latest fuss may also be a sign of long-term up-swing for the venture sophisticated investors.

Interroll Holding

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Interroll Holding AG are ranked lower than 9 (%) of all global equities and portfolios over the last 90 days. In spite of fairly abnormal basic indicators, Interroll Holding showed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Comet Holding and Interroll Holding

The main advantage of trading using opposite Comet Holding and Interroll Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Comet Holding position performs unexpectedly, Interroll 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 Interroll Holding will offset losses from the drop in Interroll Holding's long position.

The idea behind Comet Holding AG and Interroll Holding AG pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.