Correlation Between American Integrity and SIGNA Sports
Can any of the company-specific risk be diversified away by investing in both American Integrity and SIGNA Sports 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 American Integrity and SIGNA Sports into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between American Integrity Insurance and SIGNA Sports United, you can compare the effects of market volatilities on American Integrity and SIGNA Sports 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 American Integrity with a short position of SIGNA Sports. Check out your portfolio center. Please also check ongoing floating volatility patterns of American Integrity and SIGNA Sports.
Diversification Opportunities for American Integrity and SIGNA Sports
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between American and SIGNA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding American Integrity Insurance and SIGNA Sports United in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SIGNA Sports United and American Integrity 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 American Integrity Insurance are associated (or correlated) with SIGNA Sports. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SIGNA Sports United has no effect on the direction of American Integrity i.e., American Integrity and SIGNA Sports go up and down completely randomly.
Pair Corralation between American Integrity and SIGNA Sports
If you would invest 1,967 in American Integrity Insurance on September 5, 2025 and sell it today you would earn a total of 88.00 from holding American Integrity Insurance or generate 4.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
American Integrity Insurance vs. SIGNA Sports United
Performance |
| Timeline |
| American Integrity |
| SIGNA Sports United |
American Integrity and SIGNA Sports Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with American Integrity and SIGNA Sports
The main advantage of trading using opposite American Integrity and SIGNA Sports positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if American Integrity position performs unexpectedly, SIGNA Sports 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 SIGNA Sports will offset losses from the drop in SIGNA Sports' long position.| American Integrity vs. SIGNA Sports United | American Integrity vs. Alliance Sports Group | American Integrity vs. LG Display Co | American Integrity vs. PSI Software AG |
| SIGNA Sports vs. HEALTHeUNIVERSE | SIGNA Sports vs. Fidelity National Information | SIGNA Sports vs. Datadog | SIGNA Sports vs. Ion Beam Applications |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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