Correlation Between Amkor Technology and Fund
Can any of the company-specific risk be diversified away by investing in both Amkor Technology and Fund 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 Fund into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amkor Technology and Fund Inc, you can compare the effects of market volatilities on Amkor Technology and Fund 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 Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amkor Technology and Fund.
Diversification Opportunities for Amkor Technology and Fund
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between Amkor and Fund is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Amkor Technology and Fund Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fund Inc 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 Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fund Inc has no effect on the direction of Amkor Technology i.e., Amkor Technology and Fund go up and down completely randomly.
Pair Corralation between Amkor Technology and Fund
If you would invest 2,661 in Amkor Technology on September 12, 2024 and sell it today you would earn a total of 7.00 from holding Amkor Technology or generate 0.26% 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. Fund Inc
Performance |
| Timeline |
| Amkor Technology |
| Fund Inc |
Amkor Technology and Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amkor Technology and Fund
The main advantage of trading using opposite Amkor Technology and Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amkor Technology position performs unexpectedly, Fund 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 Fund will offset losses from the drop in Fund's long position.| Amkor Technology vs. Power Integrations | Amkor Technology vs. Diodes Incorporated | Amkor Technology vs. MACOM Technology Solutions | Amkor Technology vs. Cirrus Logic |
| Fund vs. Amkor Technology | Fund vs. Globalfoundries | Fund vs. Tower Semiconductor | Fund vs. Taiwan Semiconductor Manufacturing |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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