Correlation Between Ingram Micro and CLARIVATE PLC

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

By analyzing existing cross correlation between Ingram Micro Holding and CLARIVATE PLC, you can compare the effects of market volatilities on Ingram Micro and CLARIVATE PLC 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 CLARIVATE PLC. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ingram Micro and CLARIVATE PLC.

Diversification Opportunities for Ingram Micro and CLARIVATE PLC

0.53

Correlation Coefficient

Ingram Micro  CLARIVATE PLC

Very weak diversification

The 3 months correlation between Ingram and CLARIVATE is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding Ingram Micro Holding and CLARIVATE PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CLARIVATE PLC 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 Holding are associated (or correlated) with CLARIVATE PLC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CLARIVATE PLC has no effect on the direction of Ingram Micro i.e., Ingram Micro and CLARIVATE PLC go up and down completely randomly.

Pair Corralation between Ingram Micro and CLARIVATE PLC

Given the investment horizon of 90 days Ingram Micro Holding is expected to under-perform the CLARIVATE PLC. But the stock apears to be less risky and, when comparing its historical volatility, Ingram Micro Holding is 1.26 times less risky than CLARIVATE PLC. The stock trades about -0.01 of its potential returns per unit of risk. The CLARIVATE PLC is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest  430.00  in CLARIVATE PLC on May 17, 2025 and sell it today you would earn a total of  1.00  from holding CLARIVATE PLC or generate 0.23% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Weak
Accuracy	98.39%
Values	Daily Returns

Ingram Micro Holding  vs.  CLARIVATE PLC

Ingram Micro Holding

Risk-Adjusted Performance

Weakest

Over the last 90 days Ingram Micro Holding has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy technical and fundamental indicators, Ingram Micro is not utilizing all of its potentials. The latest stock price disarray, may contribute to short-term losses for the investors.

CLARIVATE PLC

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in CLARIVATE PLC are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively stable basic indicators, CLARIVATE PLC is not utilizing all of its potentials. The current stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with Ingram Micro and CLARIVATE PLC

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

The idea behind Ingram Micro Holding and CLARIVATE PLC 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 Commodity Directory module to find actively traded commodities issued by global exchanges.