Correlation Between Clear Secure and Insight Enterprises
Can any of the company-specific risk be diversified away by investing in both Clear Secure and Insight Enterprises 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 Clear Secure and Insight Enterprises into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Clear Secure and Insight Enterprises, you can compare the effects of market volatilities on Clear Secure and Insight Enterprises 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 Clear Secure with a short position of Insight Enterprises. Check out your portfolio center. Please also check ongoing floating volatility patterns of Clear Secure and Insight Enterprises.
Diversification Opportunities for Clear Secure and Insight Enterprises
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Clear and Insight is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding Clear Secure and Insight Enterprises in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Insight Enterprises and Clear Secure 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 Clear Secure are associated (or correlated) with Insight Enterprises. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Insight Enterprises has no effect on the direction of Clear Secure i.e., Clear Secure and Insight Enterprises go up and down completely randomly.
Pair Corralation between Clear Secure and Insight Enterprises
Considering the 90-day investment horizon Clear Secure is expected to generate 1.73 times more return on investment than Insight Enterprises. However, Clear Secure is 1.73 times more volatile than Insight Enterprises. It trades about 0.07 of its potential returns per unit of risk. Insight Enterprises is currently generating about -0.39 per unit of risk. If you would invest 3,400 in Clear Secure on August 13, 2025 and sell it today you would earn a total of 325.00 from holding Clear Secure or generate 9.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Clear Secure vs. Insight Enterprises
Performance |
| Timeline |
| Clear Secure |
| Insight Enterprises |
Clear Secure and Insight Enterprises Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Clear Secure and Insight Enterprises
The main advantage of trading using opposite Clear Secure and Insight Enterprises positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Clear Secure position performs unexpectedly, Insight Enterprises 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 Insight Enterprises will offset losses from the drop in Insight Enterprises' long position.| Clear Secure vs. NCR Atleos | Clear Secure vs. Braze Inc | Clear Secure vs. Blackbaud | Clear Secure vs. Alarm Holdings |
| Insight Enterprises vs. Avnet Inc | Insight Enterprises vs. SPS Commerce | Insight Enterprises vs. Globant SA | Insight Enterprises vs. Clear Secure |
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 CEOs Directory module to screen CEOs from public companies around the world.
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