Correlation Between IGT Old and Maplebear

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

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

Diversification Opportunities for IGT Old and Maplebear

0.47

Correlation Coefficient

IGT Old  Maplebear

Very weak diversification

The 3 months correlation between IGT and Maplebear is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding IGT Old and Maplebear in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maplebear and IGT Old 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 IGT Old are associated (or correlated) with Maplebear. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maplebear has no effect on the direction of IGT Old i.e., IGT Old and Maplebear go up and down completely randomly.

Pair Corralation between IGT Old and Maplebear

Considering the 90-day investment horizon IGT Old is expected to generate 0.6 times more return on investment than Maplebear. However, IGT Old is 1.67 times less risky than Maplebear. It trades about 0.28 of its potential returns per unit of risk. Maplebear is currently generating about -0.14 per unit of risk. If you would invest  1,482  in IGT Old on August 4, 2025 and sell it today you would earn a total of  159.00  from holding IGT Old or generate 10.73% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Weak
Accuracy	33.85%
Values	Daily Returns

IGT Old  vs.  Maplebear

IGT Old

Risk-Adjusted Performance

Solid

Over the last 90 days IGT Old has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively unsteady technical and fundamental indicators, IGT Old unveiled solid returns over the last few months and may actually be approaching a breakup point.

Maplebear

Risk-Adjusted Performance

Weakest

Over the last 90 days Maplebear has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of unsteady performance in the last few months, the Stock's basic indicators remain comparatively stable which may send shares a bit higher in December 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Pair Trading with IGT Old and Maplebear

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

The idea behind IGT Old and Maplebear 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.

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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.