Correlation Between Information Services and SASI Old
Can any of the company-specific risk be diversified away by investing in both Information Services and SASI Old 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 Information Services and SASI Old into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Information Services Group and SASI Old, you can compare the effects of market volatilities on Information Services and SASI Old 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 Information Services with a short position of SASI Old. Check out your portfolio center. Please also check ongoing floating volatility patterns of Information Services and SASI Old.
Diversification Opportunities for Information Services and SASI Old
-0.39 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Information and SASI is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding Information Services Group and SASI Old in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SASI Old and Information Services 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 Information Services Group are associated (or correlated) with SASI Old. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SASI Old has no effect on the direction of Information Services i.e., Information Services and SASI Old go up and down completely randomly.
Pair Corralation between Information Services and SASI Old
If you would invest 312.00 in Information Services Group on October 26, 2024 and sell it today you would earn a total of 11.00 from holding Information Services Group or generate 3.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 1.69% |
| Values | Daily Returns |
Information Services Group vs. SASI Old
Performance |
| Timeline |
| Information Services |
| SASI Old |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Information Services and SASI Old Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Information Services and SASI Old
The main advantage of trading using opposite Information Services and SASI Old positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Information Services position performs unexpectedly, SASI Old 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 SASI Old will offset losses from the drop in SASI Old's long position.| Information Services vs. Formula Systems 1985 | Information Services vs. CSP Inc | Information Services vs. Nayax | Information Services vs. The Hackett Group |
| SASI Old vs. Flint Telecom Group | SASI Old vs. Castellum | SASI Old vs. Datametrex AI Limited | SASI Old vs. TTEC 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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
Other Complementary Tools
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance |