Correlation Between Impinj and ClearOne

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

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

Diversification Opportunities for Impinj and ClearOne

-0.67

Correlation Coefficient

Impinj  ClearOne

Excellent diversification

The 3 months correlation between Impinj and ClearOne is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Impinj Inc and ClearOne in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ClearOne and Impinj 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 Impinj Inc are associated (or correlated) with ClearOne. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ClearOne has no effect on the direction of Impinj i.e., Impinj and ClearOne go up and down completely randomly.

Pair Corralation between Impinj and ClearOne

Allowing for the 90-day total investment horizon Impinj Inc is expected to generate 0.79 times more return on investment than ClearOne. However, Impinj Inc is 1.26 times less risky than ClearOne. It trades about 0.19 of its potential returns per unit of risk. ClearOne is currently generating about -0.16 per unit of risk. If you would invest  12,100  in Impinj Inc on July 10, 2025 and sell it today you would earn a total of  7,197  from holding Impinj Inc or generate 59.48% return on investment over 90 days.

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

Impinj Inc  vs.  ClearOne

Impinj Inc

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Impinj Inc are ranked lower than 14 (%) of all global equities and portfolios over the last 90 days. Despite fairly unfluctuating forward indicators, Impinj demonstrated solid returns over the last few months and may actually be approaching a breakup point.

ClearOne

Risk-Adjusted Performance

Weakest

Over the last 90 days ClearOne has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of unfluctuating performance in the last few months, the Stock's basic indicators remain very healthy which may send shares a bit higher in November 2025. The recent disarray may also be a sign of long period up-swing for the firm investors.

Pair Trading with Impinj and ClearOne

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

The idea behind Impinj Inc and ClearOne 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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.