Correlation Between Integer Holdings and CSG Systems
Can any of the company-specific risk be diversified away by investing in both Integer Holdings and CSG Systems 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 Integer Holdings and CSG Systems into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Integer Holdings Corp and CSG Systems International, you can compare the effects of market volatilities on Integer Holdings and CSG Systems 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 Integer Holdings with a short position of CSG Systems. Check out your portfolio center. Please also check ongoing floating volatility patterns of Integer Holdings and CSG Systems.
Diversification Opportunities for Integer Holdings and CSG Systems
-0.06 | Correlation Coefficient |
Good diversification
The 3 months correlation between Integer and CSG is -0.06. Overlapping area represents the amount of risk that can be diversified away by holding Integer Holdings Corp and CSG Systems International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CSG Systems International and Integer Holdings 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 Integer Holdings Corp are associated (or correlated) with CSG Systems. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CSG Systems International has no effect on the direction of Integer Holdings i.e., Integer Holdings and CSG Systems go up and down completely randomly.
Pair Corralation between Integer Holdings and CSG Systems
Given the investment horizon of 90 days Integer Holdings Corp is expected to under-perform the CSG Systems. In addition to that, Integer Holdings is 1.12 times more volatile than CSG Systems International. It trades about -0.1 of its total potential returns per unit of risk. CSG Systems International is currently generating about 0.06 per unit of volatility. If you would invest 5,908 in CSG Systems International on April 26, 2025 and sell it today you would earn a total of 308.00 from holding CSG Systems International or generate 5.21% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Integer Holdings Corp vs. CSG Systems International
Performance |
Timeline |
Integer Holdings Corp |
CSG Systems International |
Integer Holdings and CSG Systems Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Integer Holdings and CSG Systems
The main advantage of trading using opposite Integer Holdings and CSG Systems positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Integer Holdings position performs unexpectedly, CSG Systems 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 CSG Systems will offset losses from the drop in CSG Systems' long position.Integer Holdings vs. Glaukos Corp | Integer Holdings vs. Orthopediatrics Corp | Integer Holdings vs. CONMED | Integer Holdings vs. LivaNova PLC |
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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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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