Correlation Between Camelot Excalibur and Intel

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Can any of the company-specific risk be diversified away by investing in both Camelot Excalibur and Intel at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Camelot Excalibur and Intel into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Camelot Excalibur Small and Intel, you can compare the effects of market volatilities on Camelot Excalibur 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 Camelot Excalibur with a short position of Intel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Camelot Excalibur and Intel.

Diversification Opportunities for Camelot Excalibur and Intel

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between Camelot and Intel is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CAMELOT EXCALIBUR SMALL and Intel in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intel and Camelot Excalibur 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 Camelot Excalibur Small 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 Camelot Excalibur i.e., Camelot Excalibur and Intel go up and down completely randomly.

Pair Corralation between Camelot Excalibur and Intel

If you would invest  4,199  in Intel on December 30, 2023 and sell it today you would earn a total of  218.00  from holding Intel or generate 5.19% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy4.55%
ValuesDaily Returns

CAMELOT EXCALIBUR SMALL  vs.  Intel

 Performance 
       Timeline  
Camelot Excalibur Small 

Risk-Adjusted Performance

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Over the last 90 days Camelot Excalibur Small has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong basic indicators, Camelot Excalibur is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.
Intel 

Risk-Adjusted Performance

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Very Weak
Over the last 90 days Intel has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound basic indicators, Intel is not utilizing all of its potentials. The recent stock price tumult, may contribute to shorter-term losses for the shareholders.

Camelot Excalibur and Intel Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Camelot Excalibur and Intel

The main advantage of trading using opposite Camelot Excalibur and Intel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Camelot Excalibur 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.
The idea behind Camelot Excalibur Small and Intel pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Money Managers module to screen money managers from public funds and ETFs managed around the world.

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