Correlation Between Ingram Micro and BG Foods
Can any of the company-specific risk be diversified away by investing in both Ingram Micro and BG Foods 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 BG Foods into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ingram Micro and BG Foods, you can compare the effects of market volatilities on Ingram Micro and BG Foods 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 BG Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ingram Micro and BG Foods.
Diversification Opportunities for Ingram Micro and BG Foods
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Ingram and BGS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Ingram Micro and BG Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BG Foods 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 are associated (or correlated) with BG Foods. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BG Foods has no effect on the direction of Ingram Micro i.e., Ingram Micro and BG Foods go up and down completely randomly.
Pair Corralation between Ingram Micro and BG Foods
If you would invest 797.00 in BG Foods on January 19, 2024 and sell it today you would earn a total of 265.00 from holding BG Foods or generate 33.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Ingram Micro vs. BG Foods
Performance |
| Timeline |
| Ingram Micro |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| BG Foods |
Ingram Micro and BG Foods Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ingram Micro and BG Foods
The main advantage of trading using opposite Ingram Micro and BG Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ingram Micro position performs unexpectedly, BG Foods 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 BG Foods will offset losses from the drop in BG Foods' long position.| Ingram Micro vs. Asure Software | Ingram Micro vs. Tscan Therapeutics | Ingram Micro vs. Anterix | Ingram Micro vs. Genfit |
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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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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