Correlation Between Intel and TARGET
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By analyzing existing cross correlation between Intel and TARGET PORATION, you can compare the effects of market volatilities on Intel and TARGET 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 TARGET. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intel and TARGET.
Diversification Opportunities for Intel and TARGET
Very good diversification
The 3 months correlation between Intel and TARGET is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding Intel and TARGET PORATION in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TARGET PORATION 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 TARGET. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TARGET PORATION has no effect on the direction of Intel i.e., Intel and TARGET go up and down completely randomly.
Pair Corralation between Intel and TARGET
Given the investment horizon of 90 days Intel is expected to generate 10.57 times more return on investment than TARGET. However, Intel is 10.57 times more volatile than TARGET PORATION. It trades about 0.01 of its potential returns per unit of risk. TARGET PORATION is currently generating about 0.0 per unit of risk. If you would invest 2,732 in Intel on August 28, 2024 and sell it today you would lose (245.00) from holding Intel or give up 8.97% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 99.6% |
| Values | Daily Returns |
Intel vs. TARGET PORATION
Performance |
| Timeline |
| Intel |
| TARGET PORATION |
Intel and TARGET Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intel and TARGET
The main advantage of trading using opposite Intel and TARGET positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intel position performs unexpectedly, TARGET 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 TARGET will offset losses from the drop in TARGET's long position.| Intel vs. NVIDIA | Intel vs. Taiwan Semiconductor Manufacturing | Intel vs. Marvell Technology Group | Intel vs. Micron Technology |
| TARGET vs. Fernhill Beverage | TARGET vs. BioNTech SE | TARGET vs. Barrick Gold Corp | TARGET vs. Fevertree Drinks Plc |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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