Correlation Between Intel and Consolidated
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By analyzing existing cross correlation between Intel and Consolidated Energy 65, you can compare the effects of market volatilities on Intel and Consolidated 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 Consolidated. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intel and Consolidated.
Diversification Opportunities for Intel and Consolidated
-0.42 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Intel and Consolidated is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding Intel and Consolidated Energy 65 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Consolidated Energy 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 Consolidated. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Consolidated Energy has no effect on the direction of Intel i.e., Intel and Consolidated go up and down completely randomly.
Pair Corralation between Intel and Consolidated
Given the investment horizon of 90 days Intel is expected to generate 3.82 times more return on investment than Consolidated. However, Intel is 3.82 times more volatile than Consolidated Energy 65. It trades about 0.09 of its potential returns per unit of risk. Consolidated Energy 65 is currently generating about -0.31 per unit of risk. If you would invest 1,910 in Intel on December 9, 2024 and sell it today you would earn a total of 154.00 from holding Intel or generate 8.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 47.62% |
| Values | Daily Returns |
Intel vs. Consolidated Energy 65
Performance |
| Timeline |
| Intel |
| Consolidated Energy |
Intel and Consolidated Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intel and Consolidated
The main advantage of trading using opposite Intel and Consolidated positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intel position performs unexpectedly, Consolidated 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 Consolidated will offset losses from the drop in Consolidated's long position.| Intel vs. Synaptics Incorporated | ||
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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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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