Correlation Between Intel and REPUBLIC
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By analyzing existing cross correlation between Intel and REPUBLIC SVCS INC, you can compare the effects of market volatilities on Intel and REPUBLIC 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 REPUBLIC. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intel and REPUBLIC.
Diversification Opportunities for Intel and REPUBLIC
Very good diversification
The 3 months correlation between Intel and REPUBLIC is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Intel and REPUBLIC SVCS INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on REPUBLIC SVCS 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 REPUBLIC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of REPUBLIC SVCS INC has no effect on the direction of Intel i.e., Intel and REPUBLIC go up and down completely randomly.
Pair Corralation between Intel and REPUBLIC
Given the investment horizon of 90 days Intel is expected to generate 142.61 times less return on investment than REPUBLIC. But when comparing it to its historical volatility, Intel is 16.43 times less risky than REPUBLIC. It trades about 0.0 of its potential returns per unit of risk. REPUBLIC SVCS INC is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 9,420 in REPUBLIC SVCS INC on September 2, 2024 and sell it today you would lose (23.00) from holding REPUBLIC SVCS INC or give up 0.24% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 93.55% |
| Values | Daily Returns |
Intel vs. REPUBLIC SVCS INC
Performance |
| Timeline |
| Intel |
| REPUBLIC SVCS INC |
Intel and REPUBLIC Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intel and REPUBLIC
The main advantage of trading using opposite Intel and REPUBLIC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intel position performs unexpectedly, REPUBLIC 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 REPUBLIC will offset losses from the drop in REPUBLIC's long position.| Intel vs. NXP Semiconductors NV | Intel vs. GSI Technology | Intel vs. MaxLinear | Intel vs. Texas Instruments Incorporated |
| REPUBLIC vs. Cars Inc | REPUBLIC vs. Brunswick | REPUBLIC vs. Modine Manufacturing | REPUBLIC vs. Wabash National |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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