Correlation Between Intapp and Xometry
Can any of the company-specific risk be diversified away by investing in both Intapp and Xometry 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 Xometry into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Intapp Inc and Xometry, you can compare the effects of market volatilities on Intapp and Xometry 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 Xometry. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intapp and Xometry.
Diversification Opportunities for Intapp and Xometry
Good diversification
The 3 months correlation between Intapp and Xometry is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding Intapp Inc and Xometry in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xometry 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 Xometry. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xometry has no effect on the direction of Intapp i.e., Intapp and Xometry go up and down completely randomly.
Pair Corralation between Intapp and Xometry
Given the investment horizon of 90 days Intapp Inc is expected to under-perform the Xometry. But the stock apears to be less risky and, when comparing its historical volatility, Intapp Inc is 1.68 times less risky than Xometry. The stock trades about -0.2 of its potential returns per unit of risk. The Xometry is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 2,594 in Xometry on April 29, 2025 and sell it today you would earn a total of 690.00 from holding Xometry or generate 26.6% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Intapp Inc vs. Xometry
Performance |
Timeline |
Intapp Inc |
Xometry |
Intapp and Xometry Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Intapp and Xometry
The main advantage of trading using opposite Intapp and Xometry positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intapp position performs unexpectedly, Xometry 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 Xometry will offset losses from the drop in Xometry's long position.Intapp vs. DoubleVerify Holdings | Intapp vs. CS Disco LLC | Intapp vs. Guidewire Software | Intapp vs. EverCommerce |
Xometry vs. Chart Industries | Xometry vs. Hillenbrand | Xometry vs. Helios Technologies | Xometry vs. LegalZoom |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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