Correlation Between Harel Index and Intel
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By analyzing existing cross correlation between Harel Index Funds and Intel, you can compare the effects of market volatilities on Harel Index 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 Harel Index with a short position of Intel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harel Index and Intel.
Diversification Opportunities for Harel Index and Intel
-0.76 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Harel and Intel is -0.76. Overlapping area represents the amount of risk that can be diversified away by holding Harel Index Funds and Intel in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intel and Harel Index 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 Harel Index Funds 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 Harel Index i.e., Harel Index and Intel go up and down completely randomly.
Pair Corralation between Harel Index and Intel
Assuming the 90 days trading horizon Harel Index Funds is expected to generate 0.41 times more return on investment than Intel. However, Harel Index Funds is 2.41 times less risky than Intel. It trades about 0.2 of its potential returns per unit of risk. Intel is currently generating about -0.15 per unit of risk. If you would invest 195,000 in Harel Index Funds on January 26, 2024 and sell it today you would earn a total of 18,400 from holding Harel Index Funds or generate 9.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 77.42% |
| Values | Daily Returns |
Harel Index Funds vs. Intel
Performance |
| Timeline |
| Harel Index Funds |
| Intel |
Harel Index and Intel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harel Index and Intel
The main advantage of trading using opposite Harel Index and Intel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harel Index 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.| Harel Index vs. Harel Index Funds | Harel Index vs. Harel Sal Tel Bond | Harel Index vs. Harel Index Funds | Harel Index vs. Harel Index Funds |
| 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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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