Correlation Between Assurant and Intel
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By analyzing existing cross correlation between Assurant 7 percent and Intel, you can compare the effects of market volatilities on Assurant 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 Assurant with a short position of Intel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Assurant and Intel.
Diversification Opportunities for Assurant and Intel
Good diversification
The 3 months correlation between Assurant and Intel is -0.03. Overlapping area represents the amount of risk that can be diversified away by holding Assurant 7 percent and Intel in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intel and Assurant 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 Assurant 7 percent 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 has no effect on the direction of Assurant i.e., Assurant and Intel go up and down completely randomly.
Pair Corralation between Assurant and Intel
Assuming the 90 days trading horizon Assurant 7 percent is expected to under-perform the Intel. But the bond apears to be less risky and, when comparing its historical volatility, Assurant 7 percent is 1.41 times less risky than Intel. The bond trades about -0.19 of its potential returns per unit of risk. The Intel is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 2,320 in Intel on September 2, 2024 and sell it today you would earn a total of 85.00 from holding Intel or generate 3.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.48% |
| Values | Daily Returns |
Assurant 7 percent vs. Intel
Performance |
| Timeline |
| Assurant 7 percent |
| Intel |
Assurant and Intel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Assurant and Intel
The main advantage of trading using opposite Assurant and Intel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Assurant 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.| Assurant vs. AEP TEX INC | Assurant vs. US BANK NATIONAL | Assurant vs. American Express | Assurant vs. Chevron Corp |
| Intel vs. NXP Semiconductors NV | Intel vs. GSI Technology | Intel vs. MaxLinear | Intel vs. Texas Instruments Incorporated |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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