Correlation Between INTEL and Life Time
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By analyzing existing cross correlation between INTEL P 49 and Life Time Group, you can compare the effects of market volatilities on INTEL and Life Time 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 Life Time. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTEL and Life Time.
Diversification Opportunities for INTEL and Life Time
Pay attention - limited upside
The 3 months correlation between INTEL and Life is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding INTEL P 49 and Life Time Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Life Time Group 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 P 49 are associated (or correlated) with Life Time. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Life Time Group has no effect on the direction of INTEL i.e., INTEL and Life Time go up and down completely randomly.
Pair Corralation between INTEL and Life Time
Assuming the 90 days trading horizon INTEL is expected to generate 7.71 times less return on investment than Life Time. But when comparing it to its historical volatility, INTEL P 49 is 1.48 times less risky than Life Time. It trades about 0.03 of its potential returns per unit of risk. Life Time Group is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 1,478 in Life Time Group on September 3, 2024 and sell it today you would earn a total of 949.00 from holding Life Time Group or generate 64.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.21% |
| Values | Daily Returns |
INTEL P 49 vs. Life Time Group
Performance |
| Timeline |
| INTEL P 49 |
| Life Time Group |
INTEL and Life Time Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTEL and Life Time
The main advantage of trading using opposite INTEL and Life Time positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTEL position performs unexpectedly, Life Time 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 Life Time will offset losses from the drop in Life Time's long position.| INTEL vs. Life Time Group | INTEL vs. Wicket Gaming AB | INTEL vs. Kura Sushi USA | INTEL vs. Dalata Hotel Group |
| Life Time vs. Planet Fitness | Life Time vs. JAKKS Pacific | Life Time vs. Mattel Inc | Life Time vs. OneSpaWorld Holdings |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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