Correlation Between INTEL and 00108WAF7
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By analyzing existing cross correlation between INTEL P 41 and AEP TEX INC, you can compare the effects of market volatilities on INTEL and 00108WAF7 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 00108WAF7. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTEL and 00108WAF7.
Diversification Opportunities for INTEL and 00108WAF7
Average diversification
The 3 months correlation between INTEL and 00108WAF7 is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding INTEL P 41 and AEP TEX INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AEP TEX INC 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 41 are associated (or correlated) with 00108WAF7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AEP TEX INC has no effect on the direction of INTEL i.e., INTEL and 00108WAF7 go up and down completely randomly.
Pair Corralation between INTEL and 00108WAF7
Assuming the 90 days trading horizon INTEL P 41 is expected to generate 2.69 times more return on investment than 00108WAF7. However, INTEL is 2.69 times more volatile than AEP TEX INC. It trades about 0.31 of its potential returns per unit of risk. AEP TEX INC is currently generating about 0.2 per unit of risk. If you would invest 7,207 in INTEL P 41 on November 28, 2024 and sell it today you would earn a total of 1,271 from holding INTEL P 41 or generate 17.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 85.71% |
| Values | Daily Returns |
INTEL P 41 vs. AEP TEX INC
Performance |
| Timeline |
| INTEL P 41 |
| AEP TEX INC |
INTEL and 00108WAF7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTEL and 00108WAF7
The main advantage of trading using opposite INTEL and 00108WAF7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTEL position performs unexpectedly, 00108WAF7 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 00108WAF7 will offset losses from the drop in 00108WAF7's long position.| INTEL vs. Dalata Hotel Group | INTEL vs. Olympic Steel | INTEL vs. Sotherly Hotels Series | INTEL vs. Chemours Co |
| 00108WAF7 vs. Uber Technologies | 00108WAF7 vs. Arrow Electronics | 00108WAF7 vs. ServiceNow | 00108WAF7 vs. STMicroelectronics NV ADR |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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