Correlation Between Asmedia Technology and Feature Integration
Can any of the company-specific risk be diversified away by investing in both Asmedia Technology and Feature Integration 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 Asmedia Technology and Feature Integration into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Asmedia Technology and Feature Integration Technology, you can compare the effects of market volatilities on Asmedia Technology and Feature Integration 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 Asmedia Technology with a short position of Feature Integration. Check out your portfolio center. Please also check ongoing floating volatility patterns of Asmedia Technology and Feature Integration.
Diversification Opportunities for Asmedia Technology and Feature Integration
-0.59 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Asmedia and Feature is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding Asmedia Technology and Feature Integration Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Feature Integration and Asmedia Technology 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 Asmedia Technology are associated (or correlated) with Feature Integration. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Feature Integration has no effect on the direction of Asmedia Technology i.e., Asmedia Technology and Feature Integration go up and down completely randomly.
Pair Corralation between Asmedia Technology and Feature Integration
Assuming the 90 days trading horizon Asmedia Technology is expected to generate 1.71 times more return on investment than Feature Integration. However, Asmedia Technology is 1.71 times more volatile than Feature Integration Technology. It trades about 0.05 of its potential returns per unit of risk. Feature Integration Technology is currently generating about 0.03 per unit of risk. If you would invest 203,500 in Asmedia Technology on October 28, 2024 and sell it today you would earn a total of 3,500 from holding Asmedia Technology or generate 1.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Asmedia Technology vs. Feature Integration Technology
Performance |
| Timeline |
| Asmedia Technology |
| Feature Integration |
Asmedia Technology and Feature Integration Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Asmedia Technology and Feature Integration
The main advantage of trading using opposite Asmedia Technology and Feature Integration positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Asmedia Technology position performs unexpectedly, Feature Integration 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 Feature Integration will offset losses from the drop in Feature Integration's long position.| Asmedia Technology vs. Alchip Technologies | Asmedia Technology vs. Aspeed Technology | Asmedia Technology vs. Silergy Corp | Asmedia Technology vs. Global Unichip Corp |
| Feature Integration vs. SS Healthcare Holding | Feature Integration vs. Sporton International | Feature Integration vs. RDC Semiconductor Co | Feature Integration vs. Chi Hua 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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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