Correlation Between Intel and Graphic
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By analyzing existing cross correlation between Intel and Graphic Packaging International, you can compare the effects of market volatilities on Intel and Graphic 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 Graphic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intel and Graphic.
Diversification Opportunities for Intel and Graphic
Very good diversification
The 3 months correlation between Intel and Graphic is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding Intel and Graphic Packaging Internationa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Graphic Packaging 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 Graphic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Graphic Packaging has no effect on the direction of Intel i.e., Intel and Graphic go up and down completely randomly.
Pair Corralation between Intel and Graphic
Given the investment horizon of 90 days Intel is expected to under-perform the Graphic. In addition to that, Intel is 11.85 times more volatile than Graphic Packaging International. It trades about -0.03 of its total potential returns per unit of risk. Graphic Packaging International is currently generating about 0.1 per unit of volatility. If you would invest 9,145 in Graphic Packaging International on August 29, 2024 and sell it today you would earn a total of 267.00 from holding Graphic Packaging International or generate 2.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 75.4% |
| Values | Daily Returns |
Intel vs. Graphic Packaging Internationa
Performance |
| Timeline |
| Intel |
| Graphic Packaging |
Intel and Graphic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intel and Graphic
The main advantage of trading using opposite Intel and Graphic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intel position performs unexpectedly, Graphic 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 Graphic will offset losses from the drop in Graphic's long position.| Intel vs. ABIVAX Socit Anonyme | Intel vs. Morningstar Unconstrained Allocation | Intel vs. SPACE | Intel vs. Knife River |
| Graphic vs. AEP TEX INC | Graphic vs. US BANK NATIONAL | Graphic vs. Nasdaq Inc | Graphic vs. Vertiv Holdings Co |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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