Correlation Between CCC Intelligent and Clearwater Analytics
Can any of the company-specific risk be diversified away by investing in both CCC Intelligent and Clearwater Analytics 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 CCC Intelligent and Clearwater Analytics into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CCC Intelligent Solutions and Clearwater Analytics Holdings, you can compare the effects of market volatilities on CCC Intelligent and Clearwater Analytics 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 CCC Intelligent with a short position of Clearwater Analytics. Check out your portfolio center. Please also check ongoing floating volatility patterns of CCC Intelligent and Clearwater Analytics.
Diversification Opportunities for CCC Intelligent and Clearwater Analytics
-0.54 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between CCC and Clearwater is -0.54. Overlapping area represents the amount of risk that can be diversified away by holding CCC Intelligent Solutions and Clearwater Analytics Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Clearwater Analytics and CCC Intelligent 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 CCC Intelligent Solutions are associated (or correlated) with Clearwater Analytics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Clearwater Analytics has no effect on the direction of CCC Intelligent i.e., CCC Intelligent and Clearwater Analytics go up and down completely randomly.
Pair Corralation between CCC Intelligent and Clearwater Analytics
Given the investment horizon of 90 days CCC Intelligent Solutions is expected to generate 0.59 times more return on investment than Clearwater Analytics. However, CCC Intelligent Solutions is 1.71 times less risky than Clearwater Analytics. It trades about 0.14 of its potential returns per unit of risk. Clearwater Analytics Holdings is currently generating about -0.03 per unit of risk. If you would invest 878.00 in CCC Intelligent Solutions on May 26, 2025 and sell it today you would earn a total of 112.00 from holding CCC Intelligent Solutions or generate 12.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CCC Intelligent Solutions vs. Clearwater Analytics Holdings
Performance |
| Timeline |
| CCC Intelligent Solutions |
| Clearwater Analytics |
CCC Intelligent and Clearwater Analytics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CCC Intelligent and Clearwater Analytics
The main advantage of trading using opposite CCC Intelligent and Clearwater Analytics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CCC Intelligent position performs unexpectedly, Clearwater Analytics 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 Clearwater Analytics will offset losses from the drop in Clearwater Analytics' long position.| CCC Intelligent vs. Global Blue Group | CCC Intelligent vs. EverCommerce | CCC Intelligent vs. CSG Systems International | CCC Intelligent vs. Consensus Cloud Solutions |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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