Correlation Between Amkor Technology and PT Wintermar
Can any of the company-specific risk be diversified away by investing in both Amkor Technology and PT Wintermar 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 PT Wintermar into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amkor Technology and PT Wintermar Offshore, you can compare the effects of market volatilities on Amkor Technology and PT Wintermar 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 PT Wintermar. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amkor Technology and PT Wintermar.
Diversification Opportunities for Amkor Technology and PT Wintermar
-0.03 | Correlation Coefficient |
Good diversification
The 3 months correlation between Amkor and W6O is -0.03. Overlapping area represents the amount of risk that can be diversified away by holding Amkor Technology and PT Wintermar Offshore in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PT Wintermar Offshore 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 PT Wintermar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PT Wintermar Offshore has no effect on the direction of Amkor Technology i.e., Amkor Technology and PT Wintermar go up and down completely randomly.
Pair Corralation between Amkor Technology and PT Wintermar
Assuming the 90 days horizon Amkor Technology is expected to generate 0.52 times more return on investment than PT Wintermar. However, Amkor Technology is 1.92 times less risky than PT Wintermar. It trades about 0.01 of its potential returns per unit of risk. PT Wintermar Offshore is currently generating about -0.08 per unit of risk. If you would invest 2,442 in Amkor Technology on October 30, 2024 and sell it today you would earn a total of 6.00 from holding Amkor Technology or generate 0.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Amkor Technology vs. PT Wintermar Offshore
Performance |
| Timeline |
| Amkor Technology |
| PT Wintermar Offshore |
Amkor Technology and PT Wintermar Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amkor Technology and PT Wintermar
The main advantage of trading using opposite Amkor Technology and PT Wintermar positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amkor Technology position performs unexpectedly, PT Wintermar 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 PT Wintermar will offset losses from the drop in PT Wintermar's long position.| Amkor Technology vs. Chesapeake Utilities | Amkor Technology vs. NORTHEAST UTILITIES | Amkor Technology vs. Marie Brizard Wine | Amkor Technology vs. SEI INVESTMENTS |
| PT Wintermar vs. AP Mller | PT Wintermar vs. AP Mller | PT Wintermar vs. HAPAG LLOYD UNSPADR 12 | PT Wintermar vs. DFDS AS |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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