Correlation Between Ingram Micro and SBI Holdings
Can any of the company-specific risk be diversified away by investing in both Ingram Micro and SBI Holdings 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 Ingram Micro and SBI Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ingram Micro and SBI Holdings, you can compare the effects of market volatilities on Ingram Micro and SBI Holdings 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 SBI Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ingram Micro and SBI Holdings.
Diversification Opportunities for Ingram Micro and SBI Holdings
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Ingram and SBI is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Ingram Micro and SBI Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SBI Holdings 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 are associated (or correlated) with SBI Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SBI Holdings has no effect on the direction of Ingram Micro i.e., Ingram Micro and SBI Holdings go up and down completely randomly.
Pair Corralation between Ingram Micro and SBI Holdings
If you would invest 1,865 in SBI Holdings on January 24, 2024 and sell it today you would earn a total of 495.00 from holding SBI Holdings or generate 26.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Ingram Micro vs. SBI Holdings
Performance |
| Timeline |
| Ingram Micro |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| SBI Holdings |
Ingram Micro and SBI Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ingram Micro and SBI Holdings
The main advantage of trading using opposite Ingram Micro and SBI Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ingram Micro position performs unexpectedly, SBI Holdings 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 SBI Holdings will offset losses from the drop in SBI Holdings' long position.| Ingram Micro vs. National CineMedia | Ingram Micro vs. RadNet Inc | Ingram Micro vs. Global E Online | Ingram Micro vs. LanzaTech Global |
| SBI Holdings vs. Tri Continental Closed | SBI Holdings vs. Adams Natural Resources | SBI Holdings vs. Adams Diversified Equity | SBI Holdings vs. Schroders PLC |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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