Correlation Between Assure Holdings and Intelligent Living

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

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

Diversification Opportunities for Assure Holdings and Intelligent Living

0.45

Correlation Coefficient

Assure Holdings  Intelligent Living

Very weak diversification

The 3 months correlation between Assure and Intelligent is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Assure Holdings Corp and Intelligent Living Application in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intelligent Living and Assure 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 Assure Holdings Corp are associated (or correlated) with Intelligent Living. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intelligent Living has no effect on the direction of Assure Holdings i.e., Assure Holdings and Intelligent Living go up and down completely randomly.

Pair Corralation between Assure Holdings and Intelligent Living

If you would invest  68.00  in Assure Holdings Corp on September 22, 2024 and sell it today you would earn a total of  0.00  from holding Assure Holdings Corp or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Weak
Accuracy	1.56%
Values	Daily Returns

Assure Holdings Corp  vs.  Intelligent Living Application

Assure Holdings Corp

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Assure Holdings Corp has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy basic indicators, Assure Holdings is not utilizing all of its potentials. The latest stock price disarray, may contribute to short-term losses for the investors.

Intelligent Living

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Intelligent Living Application has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Stock's basic indicators remain stable and the current disturbance on Wall Street may also be a sign of long-run gains for the company stockholders.

Pair Trading with Assure Holdings and Intelligent Living

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

The idea behind Assure Holdings Corp and Intelligent Living Application 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.