Correlation Between Intel and VERIZON
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By analyzing existing cross correlation between Intel and VERIZON MUNICATIONS INC, you can compare the effects of market volatilities on Intel and VERIZON 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 VERIZON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intel and VERIZON.
Diversification Opportunities for Intel and VERIZON
Very good diversification
The 3 months correlation between Intel and VERIZON is -0.48. Overlapping area represents the amount of risk that can be diversified away by holding Intel and VERIZON MUNICATIONS INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on VERIZON MUNICATIONS 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 VERIZON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VERIZON MUNICATIONS INC has no effect on the direction of Intel i.e., Intel and VERIZON go up and down completely randomly.
Pair Corralation between Intel and VERIZON
Given the investment horizon of 90 days Intel is expected to generate 4.6 times more return on investment than VERIZON. However, Intel is 4.6 times more volatile than VERIZON MUNICATIONS INC. It trades about 0.13 of its potential returns per unit of risk. VERIZON MUNICATIONS INC is currently generating about 0.08 per unit of risk. If you would invest 2,292 in Intel on August 27, 2024 and sell it today you would earn a total of 195.00 from holding Intel or generate 8.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 80.95% |
| Values | Daily Returns |
Intel vs. VERIZON MUNICATIONS INC
Performance |
| Timeline |
| Intel |
| VERIZON MUNICATIONS INC |
Intel and VERIZON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intel and VERIZON
The main advantage of trading using opposite Intel and VERIZON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intel position performs unexpectedly, VERIZON 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 VERIZON will offset losses from the drop in VERIZON's long position.| Intel vs. NVIDIA | Intel vs. Taiwan Semiconductor Manufacturing | Intel vs. Marvell Technology Group | Intel vs. Micron Technology |
| VERIZON vs. The Coca Cola | VERIZON vs. JPMorgan Chase Co | VERIZON vs. Dupont De Nemours | VERIZON vs. Alcoa Corp |
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 Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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