Correlation Between Intuitive Investments and 4Imprint Group
Can any of the company-specific risk be diversified away by investing in both Intuitive Investments and 4Imprint Group 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 Intuitive Investments and 4Imprint Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Intuitive Investments Group and 4Imprint Group Plc, you can compare the effects of market volatilities on Intuitive Investments and 4Imprint Group 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 Intuitive Investments with a short position of 4Imprint Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intuitive Investments and 4Imprint Group.
Diversification Opportunities for Intuitive Investments and 4Imprint Group
-0.17 | Correlation Coefficient |
Good diversification
The 3 months correlation between Intuitive and 4Imprint is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding Intuitive Investments Group and 4Imprint Group Plc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 4Imprint Group Plc and Intuitive Investments 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 Intuitive Investments Group are associated (or correlated) with 4Imprint Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 4Imprint Group Plc has no effect on the direction of Intuitive Investments i.e., Intuitive Investments and 4Imprint Group go up and down completely randomly.
Pair Corralation between Intuitive Investments and 4Imprint Group
Assuming the 90 days trading horizon Intuitive Investments Group is expected to generate 2.52 times more return on investment than 4Imprint Group. However, Intuitive Investments is 2.52 times more volatile than 4Imprint Group Plc. It trades about 0.04 of its potential returns per unit of risk. 4Imprint Group Plc is currently generating about 0.03 per unit of risk. If you would invest 6,750 in Intuitive Investments Group on September 13, 2024 and sell it today you would earn a total of 5,700 from holding Intuitive Investments Group or generate 84.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Intuitive Investments Group vs. 4Imprint Group Plc
Performance |
| Timeline |
| Intuitive Investments |
| 4Imprint Group Plc |
Intuitive Investments and 4Imprint Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intuitive Investments and 4Imprint Group
The main advantage of trading using opposite Intuitive Investments and 4Imprint Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intuitive Investments position performs unexpectedly, 4Imprint Group 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 4Imprint Group will offset losses from the drop in 4Imprint Group's long position.| Intuitive Investments vs. Catalyst Media Group | Intuitive Investments vs. CATLIN GROUP | Intuitive Investments vs. Tamburi Investment Partners | Intuitive Investments vs. Magnora ASA |
| 4Imprint Group vs. Smithson Investment Trust | 4Imprint Group vs. Intuitive Investments Group | 4Imprint Group vs. Liontrust Asset Management | 4Imprint Group vs. Aurora Investment Trust |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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