Correlation Between Addus HomeCare and Integer Holdings
Can any of the company-specific risk be diversified away by investing in both Addus HomeCare and Integer Holdings 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 Addus HomeCare and Integer Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Addus HomeCare and Integer Holdings Corp, you can compare the effects of market volatilities on Addus HomeCare and Integer Holdings 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 Addus HomeCare with a short position of Integer Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Addus HomeCare and Integer Holdings.
Diversification Opportunities for Addus HomeCare and Integer Holdings
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between Addus and Integer is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Addus HomeCare and Integer Holdings Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integer Holdings Corp and Addus HomeCare 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 Addus HomeCare are associated (or correlated) with Integer Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integer Holdings Corp has no effect on the direction of Addus HomeCare i.e., Addus HomeCare and Integer Holdings go up and down completely randomly.
Pair Corralation between Addus HomeCare and Integer Holdings
Given the investment horizon of 90 days Addus HomeCare is expected to generate 0.72 times more return on investment than Integer Holdings. However, Addus HomeCare is 1.38 times less risky than Integer Holdings. It trades about -0.02 of its potential returns per unit of risk. Integer Holdings Corp is currently generating about -0.06 per unit of risk. If you would invest 12,642 in Addus HomeCare on October 5, 2025 and sell it today you would lose (1,984) from holding Addus HomeCare or give up 15.69% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Addus HomeCare vs. Integer Holdings Corp
Performance |
| Timeline |
| Addus HomeCare |
| Integer Holdings Corp |
Addus HomeCare and Integer Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Addus HomeCare and Integer Holdings
The main advantage of trading using opposite Addus HomeCare and Integer Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Addus HomeCare position performs unexpectedly, Integer Holdings 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 Integer Holdings will offset losses from the drop in Integer Holdings' long position.| Addus HomeCare vs. National HealthCare | Addus HomeCare vs. Brookdale Senior Living | Addus HomeCare vs. Ardent Health Partners | Addus HomeCare vs. Aveanna Healthcare Holdings |
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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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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