Correlation Between Thinkon Semiconductor and ACM Research
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By analyzing existing cross correlation between Thinkon Semiconductor Jinzhou and ACM Research Shanghai, you can compare the effects of market volatilities on Thinkon Semiconductor and ACM Research 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 Thinkon Semiconductor with a short position of ACM Research. Check out your portfolio center. Please also check ongoing floating volatility patterns of Thinkon Semiconductor and ACM Research.
Diversification Opportunities for Thinkon Semiconductor and ACM Research
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Thinkon and ACM is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Thinkon Semiconductor Jinzhou and ACM Research Shanghai in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ACM Research Shanghai and Thinkon 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 Thinkon Semiconductor Jinzhou are associated (or correlated) with ACM Research. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ACM Research Shanghai has no effect on the direction of Thinkon Semiconductor i.e., Thinkon Semiconductor and ACM Research go up and down completely randomly.
Pair Corralation between Thinkon Semiconductor and ACM Research
If you would invest 2,140 in Thinkon Semiconductor Jinzhou on November 7, 2024 and sell it today you would earn a total of 170.00 from holding Thinkon Semiconductor Jinzhou or generate 7.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.88% |
| Values | Daily Returns |
Thinkon Semiconductor Jinzhou vs. ACM Research Shanghai
Performance |
| Timeline |
| Thinkon Semiconductor |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| ACM Research Shanghai |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Thinkon Semiconductor and ACM Research Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Thinkon Semiconductor and ACM Research
The main advantage of trading using opposite Thinkon Semiconductor and ACM Research positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Thinkon Semiconductor position performs unexpectedly, ACM Research 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 ACM Research will offset losses from the drop in ACM Research's long position.The idea behind Thinkon Semiconductor Jinzhou and ACM Research Shanghai pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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