Correlation Between INTEL CDR and Arbor Metals
Can any of the company-specific risk be diversified away by investing in both INTEL CDR and Arbor Metals 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 CDR and Arbor Metals into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between INTEL CDR and Arbor Metals Corp, you can compare the effects of market volatilities on INTEL CDR and Arbor Metals 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 CDR with a short position of Arbor Metals. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTEL CDR and Arbor Metals.
Diversification Opportunities for INTEL CDR and Arbor Metals
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between INTEL and Arbor is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding INTEL CDR and Arbor Metals Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Arbor Metals Corp and INTEL CDR 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 CDR are associated (or correlated) with Arbor Metals. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Arbor Metals Corp has no effect on the direction of INTEL CDR i.e., INTEL CDR and Arbor Metals go up and down completely randomly.
Pair Corralation between INTEL CDR and Arbor Metals
Assuming the 90 days trading horizon INTEL CDR is expected to generate 0.79 times more return on investment than Arbor Metals. However, INTEL CDR is 1.26 times less risky than Arbor Metals. It trades about 0.06 of its potential returns per unit of risk. Arbor Metals Corp is currently generating about -0.11 per unit of risk. If you would invest 1,246 in INTEL CDR on April 24, 2025 and sell it today you would earn a total of 99.00 from holding INTEL CDR or generate 7.95% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
INTEL CDR vs. Arbor Metals Corp
Performance |
Timeline |
INTEL CDR |
Arbor Metals Corp |
INTEL CDR and Arbor Metals Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with INTEL CDR and Arbor Metals
The main advantage of trading using opposite INTEL CDR and Arbor Metals positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTEL CDR position performs unexpectedly, Arbor Metals 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 Arbor Metals will offset losses from the drop in Arbor Metals' long position.INTEL CDR vs. Cogeco Communications | INTEL CDR vs. 2028 Investment Grade | INTEL CDR vs. Kua Investments | INTEL CDR vs. Champion Gaming Group |
Arbor Metals vs. Arbor Metals Corp | Arbor Metals vs. Kiplin Metals | Arbor Metals vs. Minnova Corp | Arbor Metals vs. Noram Lithium Corp |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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