Correlation Between Innergex Renewable and Ratch Group
Can any of the company-specific risk be diversified away by investing in both Innergex Renewable and Ratch 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 Innergex Renewable and Ratch Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Innergex Renewable Energy and Ratch Group Public, you can compare the effects of market volatilities on Innergex Renewable and Ratch 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 Innergex Renewable with a short position of Ratch Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Innergex Renewable and Ratch Group.
Diversification Opportunities for Innergex Renewable and Ratch Group
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Innergex and Ratch is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Innergex Renewable Energy and Ratch Group Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ratch Group Public and Innergex Renewable 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 Innergex Renewable Energy are associated (or correlated) with Ratch Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ratch Group Public has no effect on the direction of Innergex Renewable i.e., Innergex Renewable and Ratch Group go up and down completely randomly.
Pair Corralation between Innergex Renewable and Ratch Group
If you would invest (100.00) in Ratch Group Public on October 13, 2025 and sell it today you would earn a total of 100.00 from holding Ratch Group Public or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Innergex Renewable Energy vs. Ratch Group Public
Performance |
| Timeline |
| Innergex Renewable Energy |
Risk-Adjusted Performance
Weakest
Weak | Strong |
| Ratch Group Public |
Risk-Adjusted Performance
Weakest
Weak | Strong |
Innergex Renewable and Ratch Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Innergex Renewable and Ratch Group
The main advantage of trading using opposite Innergex Renewable and Ratch Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Innergex Renewable position performs unexpectedly, Ratch 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 Ratch Group will offset losses from the drop in Ratch Group's long position.| Innergex Renewable vs. Electricity Generating PCL | Innergex Renewable vs. Spire Inc | Innergex Renewable vs. Energiedienst Holding AG | Innergex Renewable vs. Aboitiz Equity Ventures |
| Ratch Group vs. Electricity Generating PCL | Ratch Group vs. Aboitiz Equity Ventures | Ratch Group vs. Spire Inc | Ratch Group vs. Energiedienst Holding AG |
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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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