Correlation Between Amkor Technology and LANDSEA GREEN
Can any of the company-specific risk be diversified away by investing in both Amkor Technology and LANDSEA GREEN 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 Amkor Technology and LANDSEA GREEN into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amkor Technology and LANDSEA GREEN MANAGEMENT, you can compare the effects of market volatilities on Amkor Technology and LANDSEA GREEN 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 Amkor Technology with a short position of LANDSEA GREEN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amkor Technology and LANDSEA GREEN.
Diversification Opportunities for Amkor Technology and LANDSEA GREEN
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Amkor and LANDSEA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Amkor Technology and LANDSEA GREEN MANAGEMENT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LANDSEA GREEN MANAGEMENT and Amkor 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 Amkor Technology are associated (or correlated) with LANDSEA GREEN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LANDSEA GREEN MANAGEMENT has no effect on the direction of Amkor Technology i.e., Amkor Technology and LANDSEA GREEN go up and down completely randomly.
Pair Corralation between Amkor Technology and LANDSEA GREEN
If you would invest 2,471 in Amkor Technology on September 14, 2024 and sell it today you would lose (7.00) from holding Amkor Technology or give up 0.28% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Amkor Technology vs. LANDSEA GREEN MANAGEMENT
Performance |
| Timeline |
| Amkor Technology |
| LANDSEA GREEN MANAGEMENT |
Amkor Technology and LANDSEA GREEN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amkor Technology and LANDSEA GREEN
The main advantage of trading using opposite Amkor Technology and LANDSEA GREEN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amkor Technology position performs unexpectedly, LANDSEA GREEN 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 LANDSEA GREEN will offset losses from the drop in LANDSEA GREEN's long position.| Amkor Technology vs. Taiwan Semiconductor Manufacturing | Amkor Technology vs. Broadcom | Amkor Technology vs. Superior Plus Corp | Amkor Technology vs. SIVERS SEMICONDUCTORS AB |
| LANDSEA GREEN vs. Amkor Technology | LANDSEA GREEN vs. TOWNSQUARE MEDIA INC | LANDSEA GREEN vs. Safety Insurance Group | LANDSEA GREEN vs. Lion One Metals |
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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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