Correlation Between Intel and Alexandria
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By analyzing existing cross correlation between Intel and Alexandria Real Estate, you can compare the effects of market volatilities on Intel and Alexandria 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 Alexandria. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intel and Alexandria.
Diversification Opportunities for Intel and Alexandria
-0.47 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Intel and Alexandria is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding Intel and Alexandria Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Alexandria Real Estate 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 Alexandria. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Alexandria Real Estate has no effect on the direction of Intel i.e., Intel and Alexandria go up and down completely randomly.
Pair Corralation between Intel and Alexandria
Given the investment horizon of 90 days Intel is expected to generate 0.83 times more return on investment than Alexandria. However, Intel is 1.21 times less risky than Alexandria. It trades about 0.13 of its potential returns per unit of risk. Alexandria Real Estate is currently generating about -0.06 per unit of risk. If you would invest 2,292 in Intel on August 27, 2024 and sell it today you would earn a total of 195.00 from holding Intel or generate 8.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 90.48% |
| Values | Daily Returns |
Intel vs. Alexandria Real Estate
Performance |
| Timeline |
| Intel |
| Alexandria Real Estate |
Intel and Alexandria Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intel and Alexandria
The main advantage of trading using opposite Intel and Alexandria positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intel position performs unexpectedly, Alexandria 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 Alexandria will offset losses from the drop in Alexandria's long position.| Intel vs. NVIDIA | Intel vs. Taiwan Semiconductor Manufacturing | Intel vs. Marvell Technology Group | Intel vs. Micron Technology |
| Alexandria vs. Afya | Alexandria vs. Universal Music Group | Alexandria vs. Lincoln Electric Holdings | Alexandria vs. Mannatech 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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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