Correlation Between Amundi Label and Intel
Specify exactly 2 symbols:
By analyzing existing cross correlation between Amundi Label Actions and Intel, you can compare the effects of market volatilities on Amundi Label and Intel 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 Amundi Label with a short position of Intel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amundi Label and Intel.
Diversification Opportunities for Amundi Label and Intel
-0.17 | Correlation Coefficient |
Good diversification
The 3 months correlation between Amundi and Intel is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding Amundi Label Actions and Intel in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intel and Amundi Label 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 Amundi Label Actions are associated (or correlated) with Intel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intel has no effect on the direction of Amundi Label i.e., Amundi Label and Intel go up and down completely randomly.
Pair Corralation between Amundi Label and Intel
Assuming the 90 days trading horizon Amundi Label Actions is expected to under-perform the Intel. But the fund apears to be less risky and, when comparing its historical volatility, Amundi Label Actions is 4.41 times less risky than Intel. The fund trades about -0.06 of its potential returns per unit of risk. The Intel is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 2,157 in Intel on September 2, 2024 and sell it today you would earn a total of 95.00 from holding Intel or generate 4.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Amundi Label Actions vs. Intel
Performance |
| Timeline |
| Amundi Label Actions |
| Intel |
Amundi Label and Intel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amundi Label and Intel
The main advantage of trading using opposite Amundi Label and Intel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amundi Label position performs unexpectedly, Intel 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 Intel will offset losses from the drop in Intel's long position.| Amundi Label vs. Superior Plus Corp | Amundi Label vs. Intel | Amundi Label vs. Volkswagen AG | Amundi Label vs. Reliance Steel Aluminum |
| Intel vs. InterContinental Hotels Group | Intel vs. CITY OFFICE REIT | Intel vs. 24SEVENOFFICE GROUP AB | Intel vs. Summit Hotel Properties |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
Other Complementary Tools
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Commodity Directory Find actively traded commodities issued by global exchanges |