Correlation Between Ensurge Micropower and Intermap Technologies

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

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

Diversification Opportunities for Ensurge Micropower and Intermap Technologies

0.69

Correlation Coefficient

Ensurge Micropower  Intermap Technologies

Poor diversification

The 3 months correlation between Ensurge and Intermap is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding Ensurge Micropower ASA and Intermap Technologies Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intermap Technologies and Ensurge Micropower 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 Ensurge Micropower ASA are associated (or correlated) with Intermap Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intermap Technologies has no effect on the direction of Ensurge Micropower i.e., Ensurge Micropower and Intermap Technologies go up and down completely randomly.

Pair Corralation between Ensurge Micropower and Intermap Technologies

Assuming the 90 days horizon Ensurge Micropower ASA is expected to under-perform the Intermap Technologies. In addition to that, Ensurge Micropower is 1.39 times more volatile than Intermap Technologies Corp. It trades about -0.18 of its total potential returns per unit of risk. Intermap Technologies Corp is currently generating about -0.09 per unit of volatility. If you would invest  215.00  in Intermap Technologies Corp on August 14, 2025 and sell it today you would lose (46.00) from holding Intermap Technologies Corp or give up 21.4% of portfolio value over 90 days.

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

Ensurge Micropower ASA  vs.  Intermap Technologies Corp

Ensurge Micropower ASA

Risk-Adjusted Performance

Weakest

Over the last 90 days Ensurge Micropower ASA has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Stock's basic indicators remain nearly stable which may send shares a bit higher in December 2025. The current disturbance may also be a sign of long-run up-swing for the company stockholders.

Intermap Technologies

Risk-Adjusted Performance

Weakest

Over the last 90 days Intermap Technologies Corp has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Stock's basic indicators remain nearly stable which may send shares a bit higher in December 2025. The current disturbance may also be a sign of long-run up-swing for the company stockholders.

Pair Trading with Ensurge Micropower and Intermap Technologies

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

The idea behind Ensurge Micropower ASA and Intermap Technologies Corp 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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.