Correlation Between Agilon Health and Integer Holdings

Can any of the company-specific risk be diversified away by investing in both Agilon Health and Integer Holdings 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 Agilon Health and Integer Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between agilon health and Integer Holdings Corp, you can compare the effects of market volatilities on Agilon Health and Integer Holdings 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 Agilon Health with a short position of Integer Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agilon Health and Integer Holdings.

Diversification Opportunities for Agilon Health and Integer Holdings

-0.56

Correlation Coefficient

Agilon Health  Integer Holdings

Excellent diversification

The 3 months correlation between Agilon and Integer is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding agilon health and Integer Holdings Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integer Holdings Corp and Agilon Health 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 agilon health are associated (or correlated) with Integer Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integer Holdings Corp has no effect on the direction of Agilon Health i.e., Agilon Health and Integer Holdings go up and down completely randomly.

Pair Corralation between Agilon Health and Integer Holdings

Considering the 90-day investment horizon agilon health is expected to under-perform the Integer Holdings. In addition to that, Agilon Health is 4.28 times more volatile than Integer Holdings Corp. It trades about -0.28 of its total potential returns per unit of risk. Integer Holdings Corp is currently generating about 0.1 per unit of volatility. If you would invest  11,383  in Integer Holdings Corp on February 9, 2025 and sell it today you would earn a total of  461.00  from holding Integer Holdings Corp or generate 4.05% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

agilon health  vs.  Integer Holdings Corp

agilon health

Risk-Adjusted Performance

Very Weak

Over the last 90 days agilon health has generated negative risk-adjusted returns adding no value to investors with long positions. Despite quite persistent technical and fundamental indicators, Agilon Health is not utilizing all of its potentials. The current stock price mess, may contribute to short-term losses for the institutional investors.

Integer Holdings Corp

Risk-Adjusted Performance

Very Weak

Over the last 90 days Integer Holdings Corp has generated negative risk-adjusted returns adding no value to investors with long positions. Even with unsteady performance in the last few months, the Stock's technical and fundamental indicators remain relatively invariable which may send shares a bit higher in June 2025. The latest agitation may also be a sign of long-running up-swing for the enterprise retail investors.

Pair Trading with Agilon Health and Integer Holdings

The main advantage of trading using opposite Agilon Health and Integer Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agilon Health position performs unexpectedly, Integer Holdings 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 Integer Holdings will offset losses from the drop in Integer Holdings' long position.

The idea behind agilon health and Integer Holdings Corp pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.