Correlation Between Intel and Dune Acquisition
Can any of the company-specific risk be diversified away by investing in both Intel and Dune Acquisition 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 Dune Acquisition into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Intel and Dune Acquisition Corp, you can compare the effects of market volatilities on Intel and Dune Acquisition 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 Dune Acquisition. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intel and Dune Acquisition.
Diversification Opportunities for Intel and Dune Acquisition
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Intel and Dune is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding Intel and Dune Acquisition Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dune Acquisition Corp 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 Dune Acquisition. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dune Acquisition Corp has no effect on the direction of Intel i.e., Intel and Dune Acquisition go up and down completely randomly.
Pair Corralation between Intel and Dune Acquisition
If you would invest 2,152 in Intel on September 1, 2024 and sell it today you would earn a total of 253.00 from holding Intel or generate 11.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 4.76% |
| Values | Daily Returns |
Intel vs. Dune Acquisition Corp
Performance |
| Timeline |
| Intel |
| Dune Acquisition Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Intel and Dune Acquisition Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intel and Dune Acquisition
The main advantage of trading using opposite Intel and Dune Acquisition positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intel position performs unexpectedly, Dune Acquisition 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 Dune Acquisition will offset losses from the drop in Dune Acquisition's long position.| Intel vs. NXP Semiconductors NV | Intel vs. GSI Technology | Intel vs. MaxLinear | Intel vs. Texas Instruments Incorporated |
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.
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