Correlation Between BCB Bancorp and INTEL
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By analyzing existing cross correlation between BCB Bancorp and INTEL PORATION, you can compare the effects of market volatilities on BCB Bancorp 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 BCB Bancorp with a short position of INTEL. Check out your portfolio center. Please also check ongoing floating volatility patterns of BCB Bancorp and INTEL.
Diversification Opportunities for BCB Bancorp and INTEL
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between BCB and INTEL is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding BCB Bancorp and INTEL PORATION in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTEL PORATION and BCB Bancorp 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 BCB Bancorp 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 PORATION has no effect on the direction of BCB Bancorp i.e., BCB Bancorp and INTEL go up and down completely randomly.
Pair Corralation between BCB Bancorp and INTEL
Given the investment horizon of 90 days BCB Bancorp is expected to generate 1.49 times more return on investment than INTEL. However, BCB Bancorp is 1.49 times more volatile than INTEL PORATION. It trades about 0.12 of its potential returns per unit of risk. INTEL PORATION is currently generating about 0.05 per unit of risk. If you would invest 947.00 in BCB Bancorp on September 5, 2024 and sell it today you would earn a total of 350.00 from holding BCB Bancorp or generate 36.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 84.0% |
| Values | Daily Returns |
BCB Bancorp vs. INTEL PORATION
Performance |
| Timeline |
| BCB Bancorp |
| INTEL PORATION |
BCB Bancorp and INTEL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BCB Bancorp and INTEL
The main advantage of trading using opposite BCB Bancorp and INTEL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BCB Bancorp 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.| BCB Bancorp vs. Provident Financial Services | BCB Bancorp vs. First Mid Illinois | BCB Bancorp vs. ConnectOne Bancorp | BCB Bancorp vs. Finward Bancorp |
| INTEL vs. Mill City Ventures | INTEL vs. JBG SMITH Properties | INTEL vs. Juniata Valley Financial | INTEL vs. BCB Bancorp |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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