Correlation Between Migdal Mutual and Intel
Can any of the company-specific risk be diversified away by investing in both Migdal Mutual 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 Migdal Mutual and Intel into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Migdal Mutual Funds and Intel, you can compare the effects of market volatilities on Migdal Mutual 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 Migdal Mutual with a short position of Intel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Migdal Mutual and Intel.
Diversification Opportunities for Migdal Mutual and Intel
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Migdal and Intel is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding Migdal Mutual Funds and Intel in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intel and Migdal Mutual 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 Migdal Mutual 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 Migdal Mutual i.e., Migdal Mutual and Intel go up and down completely randomly.
Pair Corralation between Migdal Mutual and Intel
Assuming the 90 days trading horizon Migdal Mutual Funds is expected to generate 0.12 times more return on investment than Intel. However, Migdal Mutual Funds is 8.05 times less risky than Intel. It trades about -0.11 of its potential returns per unit of risk. Intel is currently generating about -0.33 per unit of risk. If you would invest 45,662 in Migdal Mutual Funds on January 25, 2024 and sell it today you would lose (275.00) from holding Migdal Mutual Funds or give up 0.6% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 77.27% |
| Values | Daily Returns |
Migdal Mutual Funds vs. Intel
Performance |
| Timeline |
| Migdal Mutual Funds |
| Intel |
Migdal Mutual and Intel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Migdal Mutual and Intel
The main advantage of trading using opposite Migdal Mutual and Intel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Migdal Mutual 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.| Migdal Mutual vs. Migdal Mutual Funds | Migdal Mutual vs. Migdal Mutual Funds | Migdal Mutual vs. Migdal Mutual Funds | Migdal Mutual vs. Migdal Mutual 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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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