Correlation Between Asure Software and Wintrust Financial
Can any of the company-specific risk be diversified away by investing in both Asure Software and Wintrust Financial 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 Asure Software and Wintrust Financial into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Asure Software and Wintrust Financial, you can compare the effects of market volatilities on Asure Software and Wintrust Financial 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 Asure Software with a short position of Wintrust Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Asure Software and Wintrust Financial.
Diversification Opportunities for Asure Software and Wintrust Financial
-0.2 | Correlation Coefficient |
Good diversification
The 3 months correlation between Asure and Wintrust is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding Asure Software and Wintrust Financial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Wintrust Financial and Asure Software 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 Asure Software are associated (or correlated) with Wintrust Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Wintrust Financial has no effect on the direction of Asure Software i.e., Asure Software and Wintrust Financial go up and down completely randomly.
Pair Corralation between Asure Software and Wintrust Financial
Given the investment horizon of 90 days Asure Software is expected to under-perform the Wintrust Financial. In addition to that, Asure Software is 1.33 times more volatile than Wintrust Financial. It trades about -0.02 of its total potential returns per unit of risk. Wintrust Financial is currently generating about 0.0 per unit of volatility. If you would invest 13,763 in Wintrust Financial on August 28, 2025 and sell it today you would lose (113.00) from holding Wintrust Financial or give up 0.82% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Asure Software vs. Wintrust Financial
Performance |
| Timeline |
| Asure Software |
| Wintrust Financial |
Asure Software and Wintrust Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Asure Software and Wintrust Financial
The main advantage of trading using opposite Asure Software and Wintrust Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Asure Software position performs unexpectedly, Wintrust Financial 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 Wintrust Financial will offset losses from the drop in Wintrust Financial's long position.| Asure Software vs. Education Management Corp | Asure Software vs. Laureate Education | Asure Software vs. Canadian Utilities Limited | Asure Software vs. Global Education Communities |
| Wintrust Financial vs. IBITX Software | Wintrust Financial vs. Smith Douglas Homes | Wintrust Financial vs. Igene Biotechnology | Wintrust Financial vs. Southern Home Medicl |
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 Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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