Correlation Between Amkor Technology and GSR II
Can any of the company-specific risk be diversified away by investing in both Amkor Technology and GSR II 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 GSR II into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amkor Technology and GSR II Meteora, you can compare the effects of market volatilities on Amkor Technology and GSR II 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 GSR II. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amkor Technology and GSR II.
Diversification Opportunities for Amkor Technology and GSR II
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Amkor and GSR is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Amkor Technology and GSR II Meteora in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GSR II Meteora 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 GSR II. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GSR II Meteora has no effect on the direction of Amkor Technology i.e., Amkor Technology and GSR II go up and down completely randomly.
Pair Corralation between Amkor Technology and GSR II
If you would invest 388.00 in GSR II Meteora on September 1, 2024 and sell it today you would earn a total of 0.00 from holding GSR II Meteora or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 0.79% |
| Values | Daily Returns |
Amkor Technology vs. GSR II Meteora
Performance |
| Timeline |
| Amkor Technology |
| GSR II Meteora |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Amkor Technology and GSR II Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amkor Technology and GSR II
The main advantage of trading using opposite Amkor Technology and GSR II positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amkor Technology position performs unexpectedly, GSR II 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 GSR II will offset losses from the drop in GSR II's long position.| Amkor Technology vs. NXP Semiconductors NV | Amkor Technology vs. GSI Technology | Amkor Technology vs. MaxLinear | Amkor Technology vs. Texas Instruments Incorporated |
| GSR II vs. Figs Inc | GSR II vs. Shoe Carnival | GSR II vs. Four Seasons Education | GSR II vs. Under Armour C |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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