Correlation Between Giantec Semiconductor and Lontium Semiconductor
Specify exactly 2 symbols:
By analyzing existing cross correlation between Giantec Semiconductor Corp and Lontium Semiconductor Corp, you can compare the effects of market volatilities on Giantec Semiconductor and Lontium Semiconductor 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 Giantec Semiconductor with a short position of Lontium Semiconductor. Check out your portfolio center. Please also check ongoing floating volatility patterns of Giantec Semiconductor and Lontium Semiconductor.
Diversification Opportunities for Giantec Semiconductor and Lontium Semiconductor
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Giantec and Lontium is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Giantec Semiconductor Corp and Lontium Semiconductor Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lontium Semiconductor and Giantec Semiconductor 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 Giantec Semiconductor Corp are associated (or correlated) with Lontium Semiconductor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lontium Semiconductor has no effect on the direction of Giantec Semiconductor i.e., Giantec Semiconductor and Lontium Semiconductor go up and down completely randomly.
Pair Corralation between Giantec Semiconductor and Lontium Semiconductor
Assuming the 90 days trading horizon Giantec Semiconductor is expected to generate 2.88 times less return on investment than Lontium Semiconductor. In addition to that, Giantec Semiconductor is 1.08 times more volatile than Lontium Semiconductor Corp. It trades about 0.01 of its total potential returns per unit of risk. Lontium Semiconductor Corp is currently generating about 0.04 per unit of volatility. If you would invest 5,782 in Lontium Semiconductor Corp on October 16, 2024 and sell it today you would earn a total of 2,486 from holding Lontium Semiconductor Corp or generate 43.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 96.65% |
| Values | Daily Returns |
Giantec Semiconductor Corp vs. Lontium Semiconductor Corp
Performance |
| Timeline |
| Giantec Semiconductor |
| Lontium Semiconductor |
Giantec Semiconductor and Lontium Semiconductor Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Giantec Semiconductor and Lontium Semiconductor
The main advantage of trading using opposite Giantec Semiconductor and Lontium Semiconductor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Giantec Semiconductor position performs unexpectedly, Lontium Semiconductor 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 Lontium Semiconductor will offset losses from the drop in Lontium Semiconductor's long position.| Giantec Semiconductor vs. Glodon Software Co | Giantec Semiconductor vs. Bingo Software Co | Giantec Semiconductor vs. Thunder Software Technology | Giantec Semiconductor vs. Guotai Epoint Software |
| Lontium Semiconductor vs. Lootom Telcovideo Network | Lontium Semiconductor vs. Tianshan Aluminum Group | Lontium Semiconductor vs. Tongyu Communication | Lontium Semiconductor vs. Sunwave Communications Co |
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.
Other Complementary Tools
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets |