Correlation Between Ameris Bancorp and Intel
Can any of the company-specific risk be diversified away by investing in both Ameris Bancorp 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 Ameris Bancorp and Intel into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ameris Bancorp and Intel, you can compare the effects of market volatilities on Ameris Bancorp 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 Ameris Bancorp with a short position of Intel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ameris Bancorp and Intel.
Diversification Opportunities for Ameris Bancorp and Intel
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Ameris and Intel is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding Ameris Bancorp and Intel in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intel and Ameris Bancorp 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 Ameris Bancorp 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 Ameris Bancorp i.e., Ameris Bancorp and Intel go up and down completely randomly.
Pair Corralation between Ameris Bancorp and Intel
Given the investment horizon of 90 days Ameris Bancorp is expected to generate 0.88 times more return on investment than Intel. However, Ameris Bancorp is 1.13 times less risky than Intel. It trades about 0.08 of its potential returns per unit of risk. Intel is currently generating about 0.04 per unit of risk. If you would invest 3,224 in Ameris Bancorp on January 26, 2024 and sell it today you would earn a total of 1,601 from holding Ameris Bancorp or generate 49.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ameris Bancorp vs. Intel
Performance |
| Timeline |
| Ameris Bancorp |
| Intel |
Ameris Bancorp and Intel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ameris Bancorp and Intel
The main advantage of trading using opposite Ameris Bancorp and Intel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ameris Bancorp 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.| Ameris Bancorp vs. Lakeland Bancorp | Ameris Bancorp vs. Kearny Financial Corp | Ameris Bancorp vs. Bankwell Financial Group | Ameris Bancorp vs. Business First Bancshares |
| Intel vs. NVIDIA | Intel vs. Taiwan Semiconductor Manufacturing | Intel vs. Marvell Technology Group | Intel vs. Micron Technology |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
Other Complementary Tools
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance |