Correlation Between Bruker and Integra LifeSciences

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

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

Diversification Opportunities for Bruker and Integra LifeSciences

0.12

Correlation Coefficient

Bruker  Integra LifeSciences

Average diversification

The 3 months correlation between Bruker and Integra is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Bruker and Integra LifeSciences Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integra LifeSciences and Bruker 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 Bruker are associated (or correlated) with Integra LifeSciences. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integra LifeSciences has no effect on the direction of Bruker i.e., Bruker and Integra LifeSciences go up and down completely randomly.

Pair Corralation between Bruker and Integra LifeSciences

Given the investment horizon of 90 days Bruker is expected to under-perform the Integra LifeSciences. In addition to that, Bruker is 1.03 times more volatile than Integra LifeSciences Holdings. It trades about -0.06 of its total potential returns per unit of risk. Integra LifeSciences Holdings is currently generating about 0.0 per unit of volatility. If you would invest  1,275  in Integra LifeSciences Holdings on May 6, 2025 and sell it today you would lose (62.50) from holding Integra LifeSciences Holdings or give up 4.9% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Bruker  vs.  Integra LifeSciences Holdings

Bruker

Risk-Adjusted Performance

Very Weak

Over the last 90 days Bruker has generated negative risk-adjusted returns adding no value to investors with long positions. Even with conflicting performance in the last few months, the Stock's forward-looking signals remain relatively invariable which may send shares a bit higher in September 2025. The latest agitation may also be a sign of long-running up-swing for the enterprise retail investors.

Integra LifeSciences

Risk-Adjusted Performance

Very Weak

Over the last 90 days Integra LifeSciences Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable basic indicators, Integra LifeSciences is not utilizing all of its potentials. The latest stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with Bruker and Integra LifeSciences

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

The idea behind Bruker and Integra LifeSciences Holdings 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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.