Correlation Between Juniata Valley and INTEL
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By analyzing existing cross correlation between Juniata Valley Financial and INTEL PORATION, you can compare the effects of market volatilities on Juniata Valley and INTEL 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 Juniata Valley with a short position of INTEL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Juniata Valley and INTEL.
Diversification Opportunities for Juniata Valley and INTEL
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between Juniata and INTEL is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding Juniata Valley Financial and INTEL PORATION in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTEL PORATION and Juniata Valley 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 Juniata Valley Financial are associated (or correlated) with INTEL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INTEL PORATION has no effect on the direction of Juniata Valley i.e., Juniata Valley and INTEL go up and down completely randomly.
Pair Corralation between Juniata Valley and INTEL
Given the investment horizon of 90 days Juniata Valley Financial is expected to generate 1.69 times more return on investment than INTEL. However, Juniata Valley is 1.69 times more volatile than INTEL PORATION. It trades about 0.05 of its potential returns per unit of risk. INTEL PORATION is currently generating about 0.05 per unit of risk. If you would invest 1,212 in Juniata Valley Financial on September 5, 2024 and sell it today you would earn a total of 138.00 from holding Juniata Valley Financial or generate 11.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 84.68% |
| Values | Daily Returns |
Juniata Valley Financial vs. INTEL PORATION
Performance |
| Timeline |
| Juniata Valley Financial |
| INTEL PORATION |
Juniata Valley and INTEL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Juniata Valley and INTEL
The main advantage of trading using opposite Juniata Valley and INTEL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Juniata Valley position performs unexpectedly, INTEL 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 INTEL will offset losses from the drop in INTEL's long position.| Juniata Valley vs. FNB Inc | Juniata Valley vs. Apollo Bancorp | Juniata Valley vs. Commercial National Financial | Juniata Valley vs. Eastern Michigan Financial |
| INTEL vs. Mill City Ventures | INTEL vs. JBG SMITH Properties | INTEL vs. Juniata Valley Financial | INTEL vs. BCB Bancorp |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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