Correlation Between Intel and GENERAL
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By analyzing existing cross correlation between Intel and GENERAL DYNAMICS PORATION, you can compare the effects of market volatilities on Intel and GENERAL 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 GENERAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intel and GENERAL.
Diversification Opportunities for Intel and GENERAL
Very good diversification
The 3 months correlation between Intel and GENERAL is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding Intel and GENERAL DYNAMICS PORATION in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GENERAL DYNAMICS PORATION 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 are associated (or correlated) with GENERAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GENERAL DYNAMICS PORATION has no effect on the direction of Intel i.e., Intel and GENERAL go up and down completely randomly.
Pair Corralation between Intel and GENERAL
Given the investment horizon of 90 days Intel is expected to generate 3.44 times more return on investment than GENERAL. However, Intel is 3.44 times more volatile than GENERAL DYNAMICS PORATION. It trades about 0.39 of its potential returns per unit of risk. GENERAL DYNAMICS PORATION is currently generating about -0.31 per unit of risk. If you would invest 1,898 in Intel on July 12, 2024 and sell it today you would earn a total of 448.00 from holding Intel or generate 23.6% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Intel vs. GENERAL DYNAMICS PORATION
Performance |
Timeline |
Intel |
GENERAL DYNAMICS PORATION |
Intel and GENERAL Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Intel and GENERAL
The main advantage of trading using opposite Intel and GENERAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intel position performs unexpectedly, GENERAL 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 GENERAL will offset losses from the drop in GENERAL's long position.Intel vs. Sunrun Inc | Intel vs. Sunnova Energy International | Intel vs. JinkoSolar Holding | Intel vs. Maxeon Solar Technologies |
GENERAL vs. Hillman Solutions Corp | GENERAL vs. Acme United | GENERAL vs. Willamette Valley Vineyards | GENERAL vs. Compania Cervecerias Unidas |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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