Correlation Between Intel and Direxion Daily
Can any of the company-specific risk be diversified away by investing in both Intel and Direxion Daily 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 Direxion Daily into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Intel and Direxion Daily Regional, you can compare the effects of market volatilities on Intel and Direxion Daily 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 Direxion Daily. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intel and Direxion Daily.
Diversification Opportunities for Intel and Direxion Daily
-0.78 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Intel and Direxion is -0.78. Overlapping area represents the amount of risk that can be diversified away by holding Intel and Direxion Daily Regional in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Direxion Daily Regional 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 Direxion Daily. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Direxion Daily Regional has no effect on the direction of Intel i.e., Intel and Direxion Daily go up and down completely randomly.
Pair Corralation between Intel and Direxion Daily
Given the investment horizon of 90 days Intel is expected to under-perform the Direxion Daily. But the stock apears to be less risky and, when comparing its historical volatility, Intel is 1.59 times less risky than Direxion Daily. The stock trades about -0.18 of its potential returns per unit of risk. The Direxion Daily Regional is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 8,586 in Direxion Daily Regional on August 29, 2025 and sell it today you would earn a total of 775.00 from holding Direxion Daily Regional or generate 9.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Intel vs. Direxion Daily Regional
Performance |
| Timeline |
| Intel |
| Direxion Daily Regional |
Intel and Direxion Daily Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intel and Direxion Daily
The main advantage of trading using opposite Intel and Direxion Daily positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intel position performs unexpectedly, Direxion Daily 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 Direxion Daily will offset losses from the drop in Direxion Daily's long position.| Intel vs. Quality Online Education | Intel vs. Lamar Advertising | Intel vs. Sinclair Broadcast Group | Intel vs. Codere Online Luxembourg |
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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 the Equity Valuation module to check real value of public entities based on technical and fundamental data.
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