Correlation Between GENERAL and Intel
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By analyzing existing cross correlation between GENERAL ELEC CAP and Intel, you can compare the effects of market volatilities on GENERAL 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 GENERAL with a short position of Intel. Check out your portfolio center. Please also check ongoing floating volatility patterns of GENERAL and Intel.
Diversification Opportunities for GENERAL and Intel
Pay attention - limited upside
The 3 months correlation between GENERAL and Intel is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding GENERAL ELEC CAP and Intel in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intel and GENERAL 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 GENERAL ELEC CAP 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 GENERAL i.e., GENERAL and Intel go up and down completely randomly.
Pair Corralation between GENERAL and Intel
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 | Flat |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
GENERAL ELEC CAP vs. Intel
Performance |
| Timeline |
| GENERAL ELEC CAP |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Intel |
GENERAL and Intel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GENERAL and Intel
The main advantage of trading using opposite GENERAL and Intel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GENERAL 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.| GENERAL vs. Amkor Technology | GENERAL vs. Eldorado Gold Corp | GENERAL vs. Mediag3 | GENERAL vs. Harmony Gold Mining |
| 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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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