Correlation Between Ingram Micro and Wex
Can any of the company-specific risk be diversified away by investing in both Ingram Micro and Wex 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 Wex 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 Wex Inc, you can compare the effects of market volatilities on Ingram Micro and Wex 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 Wex. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ingram Micro and Wex.
Diversification Opportunities for Ingram Micro and Wex
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Ingram and Wex is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding Ingram Micro Holding and Wex Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Wex Inc 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 Wex. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Wex Inc has no effect on the direction of Ingram Micro i.e., Ingram Micro and Wex go up and down completely randomly.
Pair Corralation between Ingram Micro and Wex
Given the investment horizon of 90 days Ingram Micro Holding is expected to generate 1.01 times more return on investment than Wex. However, Ingram Micro is 1.01 times more volatile than Wex Inc. It trades about 0.08 of its potential returns per unit of risk. Wex Inc is currently generating about -0.13 per unit of risk. If you would invest 1,963 in Ingram Micro Holding on September 4, 2025 and sell it today you would earn a total of 179.00 from holding Ingram Micro Holding or generate 9.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ingram Micro Holding vs. Wex Inc
Performance |
| Timeline |
| Ingram Micro Holding |
| Wex Inc |
Ingram Micro and Wex Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ingram Micro and Wex
The main advantage of trading using opposite Ingram Micro and Wex positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ingram Micro position performs unexpectedly, Wex 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 Wex will offset losses from the drop in Wex's long position.| Ingram Micro vs. Strategic Management and | Ingram Micro vs. Fernhill Beverage | Ingram Micro vs. Purple Beverage | Ingram Micro vs. Koios Beverage Corp |
| Wex vs. Ark Restaurants Corp | Wex vs. Konoike Transport CoLtd | Wex vs. Good Times Restaurants | Wex vs. Broadcom |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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