Correlation Between Symtek Automation and CTBC 15
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By analyzing existing cross correlation between Symtek Automation Asia and CTBC 15 Developed, you can compare the effects of market volatilities on Symtek Automation and CTBC 15 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 Symtek Automation with a short position of CTBC 15. Check out your portfolio center. Please also check ongoing floating volatility patterns of Symtek Automation and CTBC 15.
Diversification Opportunities for Symtek Automation and CTBC 15
-0.74 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Symtek and CTBC is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Symtek Automation Asia and CTBC 15 Developed in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CTBC 15 Developed and Symtek Automation 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 Symtek Automation Asia are associated (or correlated) with CTBC 15. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CTBC 15 Developed has no effect on the direction of Symtek Automation i.e., Symtek Automation and CTBC 15 go up and down completely randomly.
Pair Corralation between Symtek Automation and CTBC 15
Assuming the 90 days trading horizon Symtek Automation Asia is expected to generate 6.23 times more return on investment than CTBC 15. However, Symtek Automation is 6.23 times more volatile than CTBC 15 Developed. It trades about 0.26 of its potential returns per unit of risk. CTBC 15 Developed is currently generating about 0.04 per unit of risk. If you would invest 11,800 in Symtek Automation Asia on September 4, 2024 and sell it today you would earn a total of 8,900 from holding Symtek Automation Asia or generate 75.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Symtek Automation Asia vs. CTBC 15 Developed
Performance |
| Timeline |
| Symtek Automation Asia |
| CTBC 15 Developed |
Symtek Automation and CTBC 15 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Symtek Automation and CTBC 15
The main advantage of trading using opposite Symtek Automation and CTBC 15 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Symtek Automation position performs unexpectedly, CTBC 15 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 CTBC 15 will offset losses from the drop in CTBC 15's long position.| Symtek Automation vs. Foxsemicon Integrated Technology | Symtek Automation vs. United Integrated Services | Symtek Automation vs. Ennostar | Symtek Automation vs. All Ring Tech |
| CTBC 15 vs. Cathay Taiwan 5G | CTBC 15 vs. Ruentex Development Co | CTBC 15 vs. Symtek Automation Asia | CTBC 15 vs. CTCI Corp |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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