Correlation Between Plug Power and Intermap Technologies
Can any of the company-specific risk be diversified away by investing in both Plug Power and Intermap Technologies 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 Plug Power and Intermap Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Plug Power and Intermap Technologies Corp, you can compare the effects of market volatilities on Plug Power and Intermap Technologies 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 Plug Power with a short position of Intermap Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Plug Power and Intermap Technologies.
Diversification Opportunities for Plug Power and Intermap Technologies
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Plug and Intermap is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Plug Power and Intermap Technologies Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intermap Technologies and Plug Power 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 Plug Power are associated (or correlated) with Intermap Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intermap Technologies has no effect on the direction of Plug Power i.e., Plug Power and Intermap Technologies go up and down completely randomly.
Pair Corralation between Plug Power and Intermap Technologies
Given the investment horizon of 90 days Plug Power is expected to generate 1.67 times more return on investment than Intermap Technologies. However, Plug Power is 1.67 times more volatile than Intermap Technologies Corp. It trades about 0.0 of its potential returns per unit of risk. Intermap Technologies Corp is currently generating about -0.26 per unit of risk. If you would invest 269.00 in Plug Power on October 31, 2025 and sell it today you would lose (24.00) from holding Plug Power or give up 8.92% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Plug Power vs. Intermap Technologies Corp
Performance |
| Timeline |
| Plug Power |
| Intermap Technologies |
Plug Power and Intermap Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Plug Power and Intermap Technologies
The main advantage of trading using opposite Plug Power and Intermap Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Plug Power position performs unexpectedly, Intermap Technologies 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 Intermap Technologies will offset losses from the drop in Intermap Technologies' long position.| Plug Power vs. GrafTech International | Plug Power vs. Hayward Holdings | Plug Power vs. Amprius Technologies | Plug Power vs. Eos Energy Enterprises |
| Intermap Technologies vs. Thinkific Labs | Intermap Technologies vs. Sylogist | Intermap Technologies vs. WonderFi Technologies | Intermap Technologies vs. Alithya Group inc |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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