Correlation Between Travelers Companies and Intel
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By analyzing existing cross correlation between The Travelers Companies and Intel 325 percent, you can compare the effects of market volatilities on Travelers Companies 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 Travelers Companies with a short position of Intel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Travelers Companies and Intel.
Diversification Opportunities for Travelers Companies and Intel
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between Travelers and Intel is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding The Travelers Companies and Intel 325 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intel 325 percent and Travelers Companies 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 The Travelers Companies 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 325 percent has no effect on the direction of Travelers Companies i.e., Travelers Companies and Intel go up and down completely randomly.
Pair Corralation between Travelers Companies and Intel
Considering the 90-day investment horizon The Travelers Companies is expected to generate 1.89 times more return on investment than Intel. However, Travelers Companies is 1.89 times more volatile than Intel 325 percent. It trades about 0.17 of its potential returns per unit of risk. Intel 325 percent is currently generating about -0.04 per unit of risk. If you would invest 23,330 in The Travelers Companies on September 3, 2024 and sell it today you would earn a total of 3,274 from holding The Travelers Companies or generate 14.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
The Travelers Companies vs. Intel 325 percent
Performance |
| Timeline |
| The Travelers Companies |
| Intel 325 percent |
Travelers Companies and Intel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Travelers Companies and Intel
The main advantage of trading using opposite Travelers Companies and Intel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Travelers Companies 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.| Travelers Companies vs. SPACE | Travelers Companies vs. Ampleforth | Travelers Companies vs. ionet | Travelers Companies vs. KIN |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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