Correlation Between Intelsat and BT Group
Can any of the company-specific risk be diversified away by investing in both Intelsat and BT Group 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 Intelsat and BT Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Intelsat SA and BT Group Plc, you can compare the effects of market volatilities on Intelsat and BT Group 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 Intelsat with a short position of BT Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intelsat and BT Group.
Diversification Opportunities for Intelsat and BT Group
Pay attention - limited upside
The 3 months correlation between Intelsat and BT Group is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Intelsat SA and BT Group Plc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BT Group Plc and Intelsat 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 Intelsat SA are associated (or correlated) with BT Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BT Group Plc has no effect on the direction of Intelsat i.e., Intelsat and BT Group go up and down completely randomly.
Pair Corralation between Intelsat and BT Group
If you would invest (100.00) in BT Group Plc on January 26, 2024 and sell it today you would earn a total of 100.00 from holding BT Group Plc or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Intelsat SA vs. BT Group Plc
Performance |
| Timeline |
| Intelsat SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| BT Group Plc |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Intelsat and BT Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intelsat and BT Group
The main advantage of trading using opposite Intelsat and BT Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intelsat position performs unexpectedly, BT Group 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 BT Group will offset losses from the drop in BT Group's long position.| Intelsat vs. Ryman Hospitality Properties | Intelsat vs. The Wendys Co | Intelsat vs. Shake Shack | Intelsat vs. Starbucks |
| BT Group vs. Oatly Group AB | BT Group vs. Diageo PLC ADR | BT Group vs. RBC Bearings Incorporated | BT Group vs. Virco Manufacturing |
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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