Correlation Between Intel and Anpac Bio
Can any of the company-specific risk be diversified away by investing in both Intel and Anpac Bio 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 Anpac Bio into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Intel and Anpac Bio Medical, you can compare the effects of market volatilities on Intel and Anpac Bio 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 Anpac Bio. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intel and Anpac Bio.
Diversification Opportunities for Intel and Anpac Bio
Very good diversification
The 3 months correlation between Intel and Anpac is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding Intel and Anpac Bio Medical in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anpac Bio Medical 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 Anpac Bio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anpac Bio Medical has no effect on the direction of Intel i.e., Intel and Anpac Bio go up and down completely randomly.
Pair Corralation between Intel and Anpac Bio
If you would invest 2,252 in Intel on September 4, 2024 and sell it today you would earn a total of 141.00 from holding Intel or generate 6.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 4.76% |
| Values | Daily Returns |
Intel vs. Anpac Bio Medical
Performance |
| Timeline |
| Intel |
| Anpac Bio Medical |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Intel and Anpac Bio Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intel and Anpac Bio
The main advantage of trading using opposite Intel and Anpac Bio positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intel position performs unexpectedly, Anpac Bio 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 Anpac Bio will offset losses from the drop in Anpac Bio's long position.| Intel vs. NXP Semiconductors NV | Intel vs. Analog Devices | Intel vs. Monolithic Power Systems | Intel vs. ON Semiconductor |
| Anpac Bio vs. Anebulo Pharmaceuticals | Anpac Bio vs. Aerovate Therapeutics | Anpac Bio vs. Acrivon Therapeutics, Common | Anpac Bio vs. Opthea |
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 Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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