Correlation Between Intel and ENTERGY
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By analyzing existing cross correlation between Intel and ENTERGY ARK INC, you can compare the effects of market volatilities on Intel and ENTERGY 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 ENTERGY. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intel and ENTERGY.
Diversification Opportunities for Intel and ENTERGY
Very good diversification
The 3 months correlation between Intel and ENTERGY is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding Intel and ENTERGY ARK INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ENTERGY ARK INC 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 ENTERGY. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ENTERGY ARK INC has no effect on the direction of Intel i.e., Intel and ENTERGY go up and down completely randomly.
Pair Corralation between Intel and ENTERGY
Given the investment horizon of 90 days Intel is expected to generate 15.17 times more return on investment than ENTERGY. However, Intel is 15.17 times more volatile than ENTERGY ARK INC. It trades about 0.07 of its potential returns per unit of risk. ENTERGY ARK INC is currently generating about -0.13 per unit of risk. If you would invest 2,320 in Intel on September 2, 2024 and sell it today you would earn a total of 85.00 from holding Intel or generate 3.66% 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. ENTERGY ARK INC
Performance |
| Timeline |
| Intel |
| ENTERGY ARK INC |
Intel and ENTERGY Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intel and ENTERGY
The main advantage of trading using opposite Intel and ENTERGY positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intel position performs unexpectedly, ENTERGY 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 ENTERGY will offset losses from the drop in ENTERGY's long position.| Intel vs. NXP Semiconductors NV | Intel vs. GSI Technology | Intel vs. MaxLinear | Intel vs. Texas Instruments Incorporated |
| ENTERGY vs. AEP TEX INC | ENTERGY vs. US BANK NATIONAL | ENTERGY vs. International Business Machines | ENTERGY vs. Intel |
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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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