Correlation Between Intermap Technologies and HopTo
Can any of the company-specific risk be diversified away by investing in both Intermap Technologies and HopTo 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 Intermap Technologies and HopTo into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Intermap Technologies Corp and hopTo Inc, you can compare the effects of market volatilities on Intermap Technologies and HopTo 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 Intermap Technologies with a short position of HopTo. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intermap Technologies and HopTo.
Diversification Opportunities for Intermap Technologies and HopTo
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Intermap and HopTo is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Intermap Technologies Corp and hopTo Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on hopTo Inc and Intermap Technologies 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 Intermap Technologies Corp are associated (or correlated) with HopTo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of hopTo Inc has no effect on the direction of Intermap Technologies i.e., Intermap Technologies and HopTo go up and down completely randomly.
Pair Corralation between Intermap Technologies and HopTo
If you would invest 172.00 in Intermap Technologies Corp on November 3, 2024 and sell it today you would lose (4.00) from holding Intermap Technologies Corp or give up 2.33% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.0% |
| Values | Daily Returns |
Intermap Technologies Corp vs. hopTo Inc
Performance |
| Timeline |
| Intermap Technologies |
| hopTo Inc |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Intermap Technologies and HopTo Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intermap Technologies and HopTo
The main advantage of trading using opposite Intermap Technologies and HopTo positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intermap Technologies position performs unexpectedly, HopTo 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 HopTo will offset losses from the drop in HopTo's long position.| Intermap Technologies vs. LifeSpeak | Intermap Technologies vs. RenoWorks Software | Intermap Technologies vs. 01 Communique Laboratory | Intermap Technologies vs. RESAAS Services |
| HopTo vs. RenoWorks Software | HopTo vs. LifeSpeak | HopTo vs. 01 Communique Laboratory | HopTo vs. Intermap Technologies Corp |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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