Correlation Between YieldMax N and Intertech

Can any of the company-specific risk be diversified away by investing in both YieldMax N and Intertech 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 YieldMax N and Intertech into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between YieldMax N Option and Intertech SA Inter, you can compare the effects of market volatilities on YieldMax N and Intertech 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 YieldMax N with a short position of Intertech. Check out your portfolio center. Please also check ongoing floating volatility patterns of YieldMax N and Intertech.

Diversification Opportunities for YieldMax N and Intertech

0.36

Correlation Coefficient

YieldMax N  Intertech

Weak diversification

The 3 months correlation between YieldMax and Intertech is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding YieldMax N Option and Intertech SA Inter in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intertech SA Inter and YieldMax N 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 YieldMax N Option are associated (or correlated) with Intertech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intertech SA Inter has no effect on the direction of YieldMax N i.e., YieldMax N and Intertech go up and down completely randomly.

Pair Corralation between YieldMax N and Intertech

Given the investment horizon of 90 days YieldMax N is expected to generate 1.13 times less return on investment than Intertech. In addition to that, YieldMax N is 2.43 times more volatile than Intertech SA Inter. It trades about 0.09 of its total potential returns per unit of risk. Intertech SA Inter is currently generating about 0.24 per unit of volatility. If you would invest  125.00  in Intertech SA Inter on May 12, 2025 and sell it today you would earn a total of  34.00  from holding Intertech SA Inter or generate 27.2% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	96.92%
Values	Daily Returns

YieldMax N Option  vs.  Intertech SA Inter

YieldMax N Option

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in YieldMax N Option are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. In spite of fairly weak basic indicators, YieldMax N showed solid returns over the last few months and may actually be approaching a breakup point.

Intertech SA Inter

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Intertech SA Inter are ranked lower than 19 (%) of all global equities and portfolios over the last 90 days. Despite somewhat weak basic indicators, Intertech sustained solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with YieldMax N and Intertech

The main advantage of trading using opposite YieldMax N and Intertech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if YieldMax N position performs unexpectedly, Intertech 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 Intertech will offset losses from the drop in Intertech's long position.

The idea behind YieldMax N Option and Intertech SA Inter 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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.