Correlation Between Intergroup and Baldwin Lyons
Can any of the company-specific risk be diversified away by investing in both Intergroup and Baldwin Lyons 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 Intergroup and Baldwin Lyons into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between The Intergroup and Baldwin Lyons, you can compare the effects of market volatilities on Intergroup and Baldwin Lyons 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 Intergroup with a short position of Baldwin Lyons. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intergroup and Baldwin Lyons.
Diversification Opportunities for Intergroup and Baldwin Lyons
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Intergroup and Baldwin is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding The Intergroup and Baldwin Lyons in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Baldwin Lyons and Intergroup 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 The Intergroup are associated (or correlated) with Baldwin Lyons. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Baldwin Lyons has no effect on the direction of Intergroup i.e., Intergroup and Baldwin Lyons go up and down completely randomly.
Pair Corralation between Intergroup and Baldwin Lyons
If you would invest 2,170 in The Intergroup on January 24, 2024 and sell it today you would lose (55.00) from holding The Intergroup or give up 2.53% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
The Intergroup vs. Baldwin Lyons
Performance |
| Timeline |
| Intergroup |
| Baldwin Lyons |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Intergroup and Baldwin Lyons Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intergroup and Baldwin Lyons
The main advantage of trading using opposite Intergroup and Baldwin Lyons positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intergroup position performs unexpectedly, Baldwin Lyons 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 Baldwin Lyons will offset losses from the drop in Baldwin Lyons' long position.| Intergroup vs. Huazhu Group | Intergroup vs. Atour Lifestyle Holdings | Intergroup vs. LuxUrban Hotels | Intergroup vs. InterContinental Hotels Group |
| Baldwin Lyons vs. Timken Company | Baldwin Lyons vs. Southwest Gas Holdings | Baldwin Lyons vs. WEC Energy Group | Baldwin Lyons vs. Kenon Holdings |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Other Complementary Tools
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing |