Correlation Between Intel and INTERNATIONAL
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By analyzing existing cross correlation between Intel and INTERNATIONAL BUSINESS MACHS, you can compare the effects of market volatilities on Intel and INTERNATIONAL 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 INTERNATIONAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intel and INTERNATIONAL.
Diversification Opportunities for Intel and INTERNATIONAL
-0.57 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Intel and INTERNATIONAL is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding Intel and INTERNATIONAL BUSINESS MACHS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTERNATIONAL BUSINESS 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 INTERNATIONAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INTERNATIONAL BUSINESS has no effect on the direction of Intel i.e., Intel and INTERNATIONAL go up and down completely randomly.
Pair Corralation between Intel and INTERNATIONAL
Given the investment horizon of 90 days Intel is expected to generate 6.27 times more return on investment than INTERNATIONAL. However, Intel is 6.27 times more volatile than INTERNATIONAL BUSINESS MACHS. It trades about 0.12 of its potential returns per unit of risk. INTERNATIONAL BUSINESS MACHS is currently generating about 0.0 per unit of risk. If you would invest 2,252 in Intel on September 3, 2024 and sell it today you would earn a total of 153.00 from holding Intel or generate 6.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.0% |
| Values | Daily Returns |
Intel vs. INTERNATIONAL BUSINESS MACHS
Performance |
| Timeline |
| Intel |
| INTERNATIONAL BUSINESS |
Intel and INTERNATIONAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intel and INTERNATIONAL
The main advantage of trading using opposite Intel and INTERNATIONAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intel position performs unexpectedly, INTERNATIONAL 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 INTERNATIONAL will offset losses from the drop in INTERNATIONAL's long position.| Intel vs. NVIDIA | Intel vs. Taiwan Semiconductor Manufacturing | Intel vs. Marvell Technology Group | Intel vs. Micron Technology |
| INTERNATIONAL vs. RBC Bearings Incorporated | INTERNATIONAL vs. CF Industries Holdings | INTERNATIONAL vs. Mannatech Incorporated | INTERNATIONAL vs. Braskem SA Class |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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