Correlation Between Intertech and Hellenic Telecommunicatio

Can any of the company-specific risk be diversified away by investing in both Intertech and Hellenic Telecommunicatio 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 Intertech and Hellenic Telecommunicatio into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Intertech SA Inter and Hellenic Telecommunications Organization, you can compare the effects of market volatilities on Intertech and Hellenic Telecommunicatio 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 Intertech with a short position of Hellenic Telecommunicatio. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intertech and Hellenic Telecommunicatio.

Diversification Opportunities for Intertech and Hellenic Telecommunicatio

0.23

Correlation Coefficient

Intertech  Hellenic Telecommunicatio

Modest diversification

The 3 months correlation between Intertech and Hellenic is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding Intertech SA Inter and Hellenic Telecommunications Or in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hellenic Telecommunicatio and Intertech 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 Intertech SA Inter are associated (or correlated) with Hellenic Telecommunicatio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hellenic Telecommunicatio has no effect on the direction of Intertech i.e., Intertech and Hellenic Telecommunicatio go up and down completely randomly.

Pair Corralation between Intertech and Hellenic Telecommunicatio

Assuming the 90 days trading horizon Intertech SA Inter is expected to under-perform the Hellenic Telecommunicatio. In addition to that, Intertech is 2.08 times more volatile than Hellenic Telecommunications Organization. It trades about -0.11 of its total potential returns per unit of risk. Hellenic Telecommunications Organization is currently generating about 0.03 per unit of volatility. If you would invest  1,594  in Hellenic Telecommunications Organization on August 8, 2025 and sell it today you would earn a total of  30.00  from holding Hellenic Telecommunications Organization or generate 1.88% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	98.41%
Values	Daily Returns

Intertech SA Inter  vs.  Hellenic Telecommunications Or

Intertech SA Inter

Risk-Adjusted Performance

Weakest

Over the last 90 days Intertech SA Inter has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in December 2025. The current disturbance may also be a sign of long term up-swing for the company investors.

Hellenic Telecommunicatio

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Hellenic Telecommunications Organization are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively stable basic indicators, Hellenic Telecommunicatio is not utilizing all of its potentials. The newest stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with Intertech and Hellenic Telecommunicatio

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

The idea behind Intertech SA Inter and Hellenic Telecommunications Organization 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.

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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.