Correlation Between Agora and Intapp

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

By analyzing existing cross correlation between Agora Inc and Intapp Inc, you can compare the effects of market volatilities on Agora 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 Agora with a short position of Intapp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agora and Intapp.

Diversification Opportunities for Agora and Intapp

-0.53

Correlation Coefficient

Agora  Intapp

Excellent diversification

The 3 months correlation between Agora and Intapp is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding Agora Inc and Intapp Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intapp Inc and Agora 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 Agora Inc 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 Agora i.e., Agora and Intapp go up and down completely randomly.

Pair Corralation between Agora and Intapp

Considering the 90-day investment horizon Agora Inc is expected to generate 1.64 times more return on investment than Intapp. However, Agora is 1.64 times more volatile than Intapp Inc. It trades about 0.08 of its potential returns per unit of risk. Intapp Inc is currently generating about -0.21 per unit of risk. If you would invest  328.00  in Agora Inc on May 7, 2025 and sell it today you would earn a total of  45.00  from holding Agora Inc or generate 13.72% return on investment over 90 days.

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

Agora Inc  vs.  Intapp Inc

Agora Inc

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in Agora Inc are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. Despite fairly unsteady basic indicators, Agora demonstrated solid returns over the last few months and may actually be approaching a breakup point.

Intapp Inc

Risk-Adjusted Performance

Weakest

Over the last 90 days Intapp Inc has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in September 2025. The current disturbance may also be a sign of long term up-swing for the company investors.

Pair Trading with Agora and Intapp

The main advantage of trading using opposite Agora and Intapp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agora 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.

The idea behind Agora Inc and Intapp Inc 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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.