Correlation Between Intel and IndexIQ
Can any of the company-specific risk be diversified away by investing in both Intel and IndexIQ 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 IndexIQ into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Intel and IndexIQ, you can compare the effects of market volatilities on Intel and IndexIQ 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 IndexIQ. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intel and IndexIQ.
Diversification Opportunities for Intel and IndexIQ
Pay attention - limited upside
The 3 months correlation between Intel and IndexIQ is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Intel and IndexIQ in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IndexIQ 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 IndexIQ. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IndexIQ has no effect on the direction of Intel i.e., Intel and IndexIQ go up and down completely randomly.
Pair Corralation between Intel and IndexIQ
If you would invest 2,001 in Intel on December 1, 2024 and sell it today you would earn a total of 372.00 from holding Intel or generate 18.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Intel vs. IndexIQ
Performance |
| Timeline |
| Intel |
| IndexIQ |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Intel and IndexIQ Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intel and IndexIQ
The main advantage of trading using opposite Intel and IndexIQ positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intel position performs unexpectedly, IndexIQ 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 IndexIQ will offset losses from the drop in IndexIQ's long position.| Intel vs. ASE Industrial Holding | Intel vs. United Microelectronics | Intel vs. MaxLinear | Intel vs. SemiLEDS |
| IndexIQ vs. VanEck Natural Resources | IndexIQ vs. IQ Merger Arbitrage | IndexIQ vs. SPDR SP Global | IndexIQ vs. IQ Hedge Multi Strategy |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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