Correlation Between Interpublic Group and Intapp
Can any of the company-specific risk be diversified away by investing in both Interpublic Group and Intapp 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 Interpublic Group and Intapp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Interpublic Group of and Intapp Inc, you can compare the effects of market volatilities on Interpublic Group and Intapp 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 Interpublic Group with a short position of Intapp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Interpublic Group and Intapp.
Diversification Opportunities for Interpublic Group and Intapp
-0.53 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Interpublic and Intapp is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding Interpublic Group of and Intapp Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intapp Inc and Interpublic Group 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 Interpublic Group of are associated (or correlated) with Intapp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intapp Inc has no effect on the direction of Interpublic Group i.e., Interpublic Group and Intapp go up and down completely randomly.
Pair Corralation between Interpublic Group and Intapp
Considering the 90-day investment horizon Interpublic Group of is expected to generate 0.62 times more return on investment than Intapp. However, Interpublic Group of is 1.61 times less risky than Intapp. It trades about 0.15 of its potential returns per unit of risk. Intapp Inc is currently generating about -0.12 per unit of risk. If you would invest 2,277 in Interpublic Group of on June 6, 2025 and sell it today you would earn a total of 407.00 from holding Interpublic Group of or generate 17.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Interpublic Group of vs. Intapp Inc
Performance |
| Timeline |
| Interpublic Group |
| Intapp Inc |
Interpublic Group and Intapp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Interpublic Group and Intapp
The main advantage of trading using opposite Interpublic Group and Intapp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Interpublic Group position performs unexpectedly, Intapp 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 Intapp will offset losses from the drop in Intapp's long position.| Interpublic Group vs. Omnicom Group | Interpublic Group vs. Integral Ad Science | Interpublic Group vs. Deluxe | Interpublic Group vs. Criteo Sa |
| Intapp vs. DoubleVerify Holdings | Intapp vs. CS Disco LLC | Intapp vs. Guidewire Software | Intapp vs. EverCommerce |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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