Correlation Between Hon Hai and Antec
Can any of the company-specific risk be diversified away by investing in both Hon Hai and Antec 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 Hon Hai and Antec into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Hon Hai Precision and Antec Inc, you can compare the effects of market volatilities on Hon Hai and Antec 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 Hon Hai with a short position of Antec. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hon Hai and Antec.
Diversification Opportunities for Hon Hai and Antec
Pay attention - limited upside
The 3 months correlation between Hon and Antec is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Hon Hai Precision and Antec Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Antec Inc and Hon Hai 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 Hon Hai Precision are associated (or correlated) with Antec. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Antec Inc has no effect on the direction of Hon Hai i.e., Hon Hai and Antec go up and down completely randomly.
Pair Corralation between Hon Hai and Antec
If you would invest (100.00) in Antec Inc on October 24, 2024 and sell it today you would earn a total of 100.00 from holding Antec Inc or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Hon Hai Precision vs. Antec Inc
Performance |
| Timeline |
| Hon Hai Precision |
| Antec Inc |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Hon Hai and Antec Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hon Hai and Antec
The main advantage of trading using opposite Hon Hai and Antec positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hon Hai position performs unexpectedly, Antec 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 Antec will offset losses from the drop in Antec's long position.| Hon Hai vs. United Microelectronics | Hon Hai vs. MediaTek | Hon Hai vs. Chunghwa Telecom Co | Hon Hai vs. Delta Electronics |
| Antec vs. Lian Hwa Foods | Antec vs. Hi Lai Foods Co | Antec vs. Far EasTone Telecommunications | Antec vs. Tehmag Foods |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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