Correlation Between Intel and AgileThought
Can any of the company-specific risk be diversified away by investing in both Intel and AgileThought 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 Intel and AgileThought into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Intel and AgileThought, you can compare the effects of market volatilities on Intel and AgileThought 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 Intel with a short position of AgileThought. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intel and AgileThought.
Diversification Opportunities for Intel and AgileThought
-0.79 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Intel and AgileThought is -0.79. Overlapping area represents the amount of risk that can be diversified away by holding Intel and AgileThought in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AgileThought and Intel 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 Intel are associated (or correlated) with AgileThought. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AgileThought has no effect on the direction of Intel i.e., Intel and AgileThought go up and down completely randomly.
Pair Corralation between Intel and AgileThought
Given the investment horizon of 90 days Intel is expected to generate 0.42 times more return on investment than AgileThought. However, Intel is 2.36 times less risky than AgileThought. It trades about 0.0 of its potential returns per unit of risk. AgileThought is currently generating about -0.09 per unit of risk. If you would invest 2,767 in Intel on September 2, 2024 and sell it today you would lose (362.00) from holding Intel or give up 13.08% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 31.05% |
| Values | Daily Returns |
Intel vs. AgileThought
Performance |
| Timeline |
| Intel |
| AgileThought |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Intel and AgileThought Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intel and AgileThought
The main advantage of trading using opposite Intel and AgileThought positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intel position performs unexpectedly, AgileThought 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 AgileThought will offset losses from the drop in AgileThought's long position.| Intel vs. NXP Semiconductors NV | Intel vs. GSI Technology | Intel vs. MaxLinear | Intel vs. Texas Instruments Incorporated |
| AgileThought vs. Genpact Limited | AgileThought vs. ExlService Holdings | AgileThought vs. Science Applications International | AgileThought vs. CLARIVATE PLC |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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