Correlation Between Intuit and Autodesk

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

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

Diversification Opportunities for Intuit and Autodesk

-0.37

Correlation Coefficient

Intuit  Autodesk

Very good diversification

The 3 months correlation between Intuit and Autodesk is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding Intuit Inc and Autodesk in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Autodesk and Intuit 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 Intuit Inc are associated (or correlated) with Autodesk. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Autodesk has no effect on the direction of Intuit i.e., Intuit and Autodesk go up and down completely randomly.

Pair Corralation between Intuit and Autodesk

Given the investment horizon of 90 days Intuit Inc is expected to under-perform the Autodesk. But the stock apears to be less risky and, when comparing its historical volatility, Intuit Inc is 1.2 times less risky than Autodesk. The stock trades about -0.15 of its potential returns per unit of risk. The Autodesk is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest  28,039  in Autodesk on July 11, 2025 and sell it today you would earn a total of  3,102  from holding Autodesk or generate 11.06% return on investment over 90 days.

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

Intuit Inc  vs.  Autodesk

Intuit Inc

Risk-Adjusted Performance

Weakest

Over the last 90 days Intuit Inc has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of conflicting performance in the last few months, the Stock's basic indicators remain comparatively stable which may send shares a bit higher in November 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Autodesk

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Autodesk are ranked lower than 7 (%) of all global equities and portfolios over the last 90 days. Despite quite conflicting basic indicators, Autodesk may actually be approaching a critical reversion point that can send shares even higher in November 2025.

Pair Trading with Intuit and Autodesk

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

The idea behind Intuit Inc and Autodesk 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.

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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.