Correlation Between C WorldWide and Intel
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By analyzing existing cross correlation between C WorldWide Emerging and Intel, you can compare the effects of market volatilities on C WorldWide 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 C WorldWide with a short position of Intel. Check out your portfolio center. Please also check ongoing floating volatility patterns of C WorldWide and Intel.
Diversification Opportunities for C WorldWide and Intel
-0.62 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between CWIEMMKL and Intel is -0.62. Overlapping area represents the amount of risk that can be diversified away by holding C WorldWide Emerging and Intel in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intel and C WorldWide 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 C WorldWide Emerging 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 C WorldWide i.e., C WorldWide and Intel go up and down completely randomly.
Pair Corralation between C WorldWide and Intel
Assuming the 90 days trading horizon C WorldWide Emerging is expected to generate 0.44 times more return on investment than Intel. However, C WorldWide Emerging is 2.3 times less risky than Intel. It trades about 0.02 of its potential returns per unit of risk. Intel is currently generating about 0.0 per unit of risk. If you would invest 29,500 in C WorldWide Emerging on January 26, 2024 and sell it today you would earn a total of 2,800 from holding C WorldWide Emerging or generate 9.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 93.93% |
| Values | Daily Returns |
C WorldWide Emerging vs. Intel
Performance |
| Timeline |
| C WorldWide Emerging |
| Intel |
C WorldWide and Intel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with C WorldWide and Intel
The main advantage of trading using opposite C WorldWide and Intel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if C WorldWide 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.| C WorldWide vs. Novo Nordisk AS | C WorldWide vs. Nordea Bank Abp | C WorldWide vs. DSV Panalpina AS | C WorldWide vs. AP Mller |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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