Correlation Analysis Between Marriott International and Intel

This module allows you to analyze existing cross correlation between Marriott International and Intel Corporation. You can compare the effects of market volatilities on Marriott International 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 Marriott International with a short position of Intel. See also your portfolio center. Please also check ongoing floating volatility patterns of Marriott International and Intel.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

Marriott International  
00

Risk-Adjusted Performance

Over the last 30 days Marriott International has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively invariable forward-looking signals, Marriott International is not utilizing all of its potentials. The prevalent stock price agitation, may contribute to short term losses for the management.
Intel  
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Risk-Adjusted Performance

Over the last 30 days Intel Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Intel is not utilizing all of its potentials. The ongoing stock price disturbance, may contribute to short term losses for the investors.

Marriott International and Intel Volatility Contrast

 Predicted Return Density 
      Returns 

Marriott International  vs.  Intel Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Marriott International is expected to under-perform the Intel. In addition to that, Marriott International is 1.01 times more volatile than Intel Corporation. It trades about -0.06 of its total potential returns per unit of risk. Intel Corporation is currently generating about -0.01 per unit of volatility. If you would invest  4,763  in Intel Corporation on July 22, 2019 and sell it today you would lose (49.00)  from holding Intel Corporation or give up 1.03% of portfolio value over 30 days.

Pair Corralation between Marriott International and Intel

0.66
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy97.67%
ValuesDaily Returns

Diversification Opportunities for Marriott International and Intel

Marriott International diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Marriott International and Intel Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Intel and Marriott International 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 Marriott International 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 Marriott International i.e. Marriott International and Intel go up and down completely randomly.
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