Correlation Between Ingram Micro and ESCO Technologies
Can any of the company-specific risk be diversified away by investing in both Ingram Micro and ESCO 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 Ingram Micro and ESCO Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ingram Micro Holding and ESCO Technologies, you can compare the effects of market volatilities on Ingram Micro and ESCO 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 Ingram Micro with a short position of ESCO Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ingram Micro and ESCO Technologies.
Diversification Opportunities for Ingram Micro and ESCO Technologies
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Ingram and ESCO is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Ingram Micro Holding and ESCO Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ESCO Technologies and Ingram Micro 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 Ingram Micro Holding are associated (or correlated) with ESCO Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ESCO Technologies has no effect on the direction of Ingram Micro i.e., Ingram Micro and ESCO Technologies go up and down completely randomly.
Pair Corralation between Ingram Micro and ESCO Technologies
Given the investment horizon of 90 days Ingram Micro Holding is expected to generate 1.18 times more return on investment than ESCO Technologies. However, Ingram Micro is 1.18 times more volatile than ESCO Technologies. It trades about 0.11 of its potential returns per unit of risk. ESCO Technologies is currently generating about 0.06 per unit of risk. If you would invest 1,897 in Ingram Micro Holding on September 2, 2025 and sell it today you would earn a total of 244.00 from holding Ingram Micro Holding or generate 12.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ingram Micro Holding vs. ESCO Technologies
Performance |
| Timeline |
| Ingram Micro Holding |
| ESCO Technologies |
Ingram Micro and ESCO Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ingram Micro and ESCO Technologies
The main advantage of trading using opposite Ingram Micro and ESCO Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ingram Micro position performs unexpectedly, ESCO 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 ESCO Technologies will offset losses from the drop in ESCO Technologies' long position.| Ingram Micro vs. Burke Herbert Financial | Ingram Micro vs. Baristas Coffee | Ingram Micro vs. National Bank of | Ingram Micro vs. Jutal Offshore Oil |
| ESCO Technologies vs. Forum Mobile | ESCO Technologies vs. T Mobile US, 5500 | ESCO Technologies vs. Comtech Telecommunications Corp | ESCO Technologies vs. Spirent Communications plc |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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