Correlation Between International General and IMAC Holdings
Can any of the company-specific risk be diversified away by investing in both International General and IMAC 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 International General and IMAC Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between International General Insurance and IMAC Holdings, you can compare the effects of market volatilities on International General and IMAC 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 International General with a short position of IMAC Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of International General and IMAC Holdings.
Diversification Opportunities for International General and IMAC Holdings
-0.59 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between International and IMAC is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding International General Insuranc and IMAC Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IMAC Holdings and International General 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 International General Insurance are associated (or correlated) with IMAC Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IMAC Holdings has no effect on the direction of International General i.e., International General and IMAC Holdings go up and down completely randomly.
Pair Corralation between International General and IMAC Holdings
If you would invest 1,808 in International General Insurance on August 28, 2024 and sell it today you would earn a total of 780.00 from holding International General Insurance or generate 43.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 1.59% |
| Values | Daily Returns |
International General Insuranc vs. IMAC Holdings
Performance |
| Timeline |
| International General |
| IMAC Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
International General and IMAC Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with International General and IMAC Holdings
The main advantage of trading using opposite International General and IMAC Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if International General position performs unexpectedly, IMAC 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 IMAC Holdings will offset losses from the drop in IMAC Holdings' long position.| International General vs. Enstar Group Limited | International General vs. Axa Equitable Holdings | International General vs. Arch Capital Group | International General vs. Waterdrop ADR |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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