Correlation Between Phunware and Intrusion

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

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

Diversification Opportunities for Phunware and Intrusion

0.82

Correlation Coefficient

Phunware  Intrusion

Very poor diversification

The 3 months correlation between Phunware and Intrusion is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Phunware and Intrusion in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intrusion and Phunware 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 Phunware are associated (or correlated) with Intrusion. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intrusion has no effect on the direction of Phunware i.e., Phunware and Intrusion go up and down completely randomly.

Pair Corralation between Phunware and Intrusion

Given the investment horizon of 90 days Phunware is expected to under-perform the Intrusion. But the stock apears to be less risky and, when comparing its historical volatility, Phunware is 1.41 times less risky than Intrusion. The stock trades about -0.07 of its potential returns per unit of risk. The Intrusion is currently generating about -0.01 of returns per unit of risk over similar time horizon. If you would invest  166.00  in Intrusion on September 8, 2025 and sell it today you would lose (17.00) from holding Intrusion or give up 10.24% of portfolio value over 90 days.

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

Phunware  vs.  Intrusion

Phunware

Risk-Adjusted Performance

Weakest

Over the last 90 days Phunware has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's basic indicators remain very healthy which may send shares a bit higher in January 2026. The recent disarray may also be a sign of long period up-swing for the firm investors.

Intrusion

Risk-Adjusted Performance

Weakest

Over the last 90 days Intrusion has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly strong basic indicators, Intrusion is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with Phunware and Intrusion

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

The idea behind Phunware and Intrusion 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 Global Correlations module to find global opportunities by holding instruments from different markets.