Correlation Between Intel and PIMCO 1-5

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Can any of the company-specific risk be diversified away by investing in both Intel and PIMCO 1-5 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 Intel and PIMCO 1-5 into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Intel and PIMCO 1-5 Year, you can compare the effects of market volatilities on Intel and PIMCO 1-5 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 Intel with a short position of PIMCO 1-5. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intel and PIMCO 1-5.

Diversification Opportunities for Intel and PIMCO 1-5

  Correlation Coefficient

Very weak diversification

The 3 months correlation between Intel and PIMCO is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Intel and PIMCO 1-5 Year in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PIMCO 1-5 Year and Intel 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 Intel are associated (or correlated) with PIMCO 1-5. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PIMCO 1-5 Year has no effect on the direction of Intel i.e., Intel and PIMCO 1-5 go up and down completely randomly.

Pair Corralation between Intel and PIMCO 1-5

Given the investment horizon of 90 days Intel is expected to under-perform the PIMCO 1-5. In addition to that, Intel is 8.08 times more volatile than PIMCO 1-5 Year. It trades about -0.06 of its total potential returns per unit of risk. PIMCO 1-5 Year is currently generating about 0.01 per unit of volatility. If you would invest  5,003  in PIMCO 1-5 Year on December 27, 2022 and sell it today you would earn a total of  76.00  from holding PIMCO 1-5 Year or generate 1.52% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
ValuesDaily Returns

Intel  vs.  PIMCO 1-5 Year

 Performance (%) 

Intel Performance

7 of 100

Compared to the overall equity markets, risk-adjusted returns on investments in Intel are ranked lower than 7 (%) of all global equities and portfolios over the last 90 days. In spite of rather uncertain basic indicators, Intel exhibited solid returns over the last few months and may actually be approaching a breakup point.
PIMCO 1-5 Year 

PIMCO Performance

6 of 100

Compared to the overall equity markets, risk-adjusted returns on investments in PIMCO 1-5 Year are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. In spite of fairly strong basic indicators, PIMCO 1-5 is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Intel and PIMCO 1-5 Volatility Contrast

   Predicted Return Density   

Pair Trading with Intel and PIMCO 1-5

The main advantage of trading using opposite Intel and PIMCO 1-5 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intel position performs unexpectedly, PIMCO 1-5 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 PIMCO 1-5 will offset losses from the drop in PIMCO 1-5's long position.
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The idea behind Intel and PIMCO 1-5 Year pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.

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