Correlation Between Kinsus Interconnect and Global Mixed
Can any of the company-specific risk be diversified away by investing in both Kinsus Interconnect and Global Mixed 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 Kinsus Interconnect and Global Mixed into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kinsus Interconnect Technology and Global Mixed Mode Technology, you can compare the effects of market volatilities on Kinsus Interconnect and Global Mixed 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 Kinsus Interconnect with a short position of Global Mixed. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kinsus Interconnect and Global Mixed.
Diversification Opportunities for Kinsus Interconnect and Global Mixed
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Kinsus and Global is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Kinsus Interconnect Technology and Global Mixed Mode Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Global Mixed Mode and Kinsus Interconnect 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 Kinsus Interconnect Technology are associated (or correlated) with Global Mixed. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Global Mixed Mode has no effect on the direction of Kinsus Interconnect i.e., Kinsus Interconnect and Global Mixed go up and down completely randomly.
Pair Corralation between Kinsus Interconnect and Global Mixed
Assuming the 90 days trading horizon Kinsus Interconnect Technology is expected to generate 2.25 times more return on investment than Global Mixed. However, Kinsus Interconnect is 2.25 times more volatile than Global Mixed Mode Technology. It trades about 0.24 of its potential returns per unit of risk. Global Mixed Mode Technology is currently generating about 0.48 per unit of risk. If you would invest 9,670 in Kinsus Interconnect Technology on November 28, 2024 and sell it today you would earn a total of 830.00 from holding Kinsus Interconnect Technology or generate 8.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kinsus Interconnect Technology vs. Global Mixed Mode Technology
Performance |
| Timeline |
| Kinsus Interconnect |
| Global Mixed Mode |
Kinsus Interconnect and Global Mixed Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kinsus Interconnect and Global Mixed
The main advantage of trading using opposite Kinsus Interconnect and Global Mixed positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kinsus Interconnect position performs unexpectedly, Global Mixed 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 Global Mixed will offset losses from the drop in Global Mixed's long position.| Kinsus Interconnect vs. Unimicron Technology Corp | Kinsus Interconnect vs. Nan Ya Printed | Kinsus Interconnect vs. Novatek Microelectronics Corp | Kinsus Interconnect vs. Powertech Technology |
| Global Mixed vs. Sitronix Technology Corp | Global Mixed vs. Novatek Microelectronics Corp | Global Mixed vs. Global Unichip Corp | Global Mixed vs. Holtek Semiconductor |
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 Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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