This module allows you to analyze existing cross correlation between Ingram Micro Inc and Adams Resources Energy Inc. You can compare the effects of market volatilities on Ingram Micro and Adams Resources 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 Ingram Micro with a short position of Adams Resources. See also your portfolio center
. Please also check ongoing floating volatility patterns of Ingram Micro
and Adams Resources
Ingram Micro Inc vs Adams Resources Energy Inc
Allowing for the 30-days total investment horizon, Ingram Micro Inc is expected to generate 89.99 times more return on investment than Adams Resources. However, Ingram Micro is 89.99 times more volatile than Adams Resources Energy Inc. It trades about 0.3 of its potential returns per unit of risk. Adams Resources Energy Inc is currently generating about -0.16 per unit of risk. If you would invest 3,889 in Ingram Micro Inc on February 16, 2018 and sell it today you would earn a total of 0.00 from holding Ingram Micro Inc or generate 0.0% return on investment over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Ingram Micro Inc and Adams Resources Energy Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Adams Resources Energy and Ingram Micro 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 Ingram Micro Inc are associated (or correlated) with Adams Resources. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Adams Resources Energy has no effect on the direction of Ingram Micro i.e. Ingram Micro and Adams Resources go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Ingram Micro Inc are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days Adams Resources Energy Inc has generated negative risk-adjusted returns adding no value to investors with long positions.