Correlation Between Intapp and Calix

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

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

Diversification Opportunities for Intapp and Calix

-0.91

Correlation Coefficient

Intapp  Calix

Pay attention - limited upside

The 3 months correlation between Intapp and Calix is -0.91. Overlapping area represents the amount of risk that can be diversified away by holding Intapp Inc and Calix Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calix Inc and Intapp 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 Intapp Inc are associated (or correlated) with Calix. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calix Inc has no effect on the direction of Intapp i.e., Intapp and Calix go up and down completely randomly.

Pair Corralation between Intapp and Calix

Given the investment horizon of 90 days Intapp Inc is expected to under-perform the Calix. In addition to that, Intapp is 1.51 times more volatile than Calix Inc. It trades about -0.32 of its total potential returns per unit of risk. Calix Inc is currently generating about 0.32 per unit of volatility. If you would invest  4,525  in Calix Inc on May 15, 2025 and sell it today you would earn a total of  1,389  from holding Calix Inc or generate 30.7% return on investment over 90 days.

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

Intapp Inc  vs.  Calix Inc

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 abnormal 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.

Calix Inc

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Calix Inc are ranked lower than 24 (%) of all global equities and portfolios over the last 90 days. In spite of fairly weak essential indicators, Calix showed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Intapp and Calix

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

The idea behind Intapp Inc and Calix 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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.