Correlation Between Sequans Communications and Intel
Can any of the company-specific risk be diversified away by investing in both Sequans Communications 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 Sequans Communications and Intel into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sequans Communications SA and Intel, you can compare the effects of market volatilities on Sequans Communications 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 Sequans Communications with a short position of Intel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sequans Communications and Intel.
Diversification Opportunities for Sequans Communications and Intel
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Sequans and Intel is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding Sequans Communications SA and Intel in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intel and Sequans Communications 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 Sequans Communications SA 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 Sequans Communications i.e., Sequans Communications and Intel go up and down completely randomly.
Pair Corralation between Sequans Communications and Intel
Given the investment horizon of 90 days Sequans Communications SA is expected to under-perform the Intel. In addition to that, Sequans Communications is 4.51 times more volatile than Intel. It trades about -0.02 of its total potential returns per unit of risk. Intel is currently generating about 0.11 per unit of volatility. If you would invest 2,025 in Intel on June 4, 2025 and sell it today you would earn a total of 410.00 from holding Intel or generate 20.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sequans Communications SA vs. Intel
Performance |
| Timeline |
| Sequans Communications |
| Intel |
Sequans Communications and Intel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sequans Communications and Intel
The main advantage of trading using opposite Sequans Communications and Intel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sequans Communications 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.| Sequans Communications vs. QuickLogic | Sequans Communications vs. Power Integrations | Sequans Communications vs. Silicon Laboratories | Sequans Communications vs. FormFactor |
| Intel vs. Xponential Fitness | Intel vs. TIM Participacoes SA | Intel vs. Alibaba Group Holding | Intel vs. Planet Fitness |
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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