Correlation Between Cincinnati Bell and Intelsat
Can any of the company-specific risk be diversified away by investing in both Cincinnati Bell and Intelsat 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 Cincinnati Bell and Intelsat into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cincinnati Bell and Intelsat SA, you can compare the effects of market volatilities on Cincinnati Bell and Intelsat 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 Cincinnati Bell with a short position of Intelsat. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cincinnati Bell and Intelsat.
Diversification Opportunities for Cincinnati Bell and Intelsat
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cincinnati and Intelsat is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Cincinnati Bell and Intelsat SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intelsat SA and Cincinnati Bell 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 Cincinnati Bell are associated (or correlated) with Intelsat. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intelsat SA has no effect on the direction of Cincinnati Bell i.e., Cincinnati Bell and Intelsat go up and down completely randomly.
Pair Corralation between Cincinnati Bell and Intelsat
If you would invest (100.00) in Intelsat SA on January 26, 2024 and sell it today you would earn a total of 100.00 from holding Intelsat SA 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 |
Cincinnati Bell vs. Intelsat SA
Performance |
| Timeline |
| Cincinnati Bell |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Intelsat SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Cincinnati Bell and Intelsat Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cincinnati Bell and Intelsat
The main advantage of trading using opposite Cincinnati Bell and Intelsat positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cincinnati Bell position performs unexpectedly, Intelsat 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 Intelsat will offset losses from the drop in Intelsat's long position.| Cincinnati Bell vs. JBG SMITH Properties | Cincinnati Bell vs. Smith Douglas Homes | Cincinnati Bell vs. Hooker Furniture | Cincinnati Bell vs. US Silica Holdings |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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