Correlation Between Amkor Technology and ALBERTSONS
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By analyzing existing cross correlation between Amkor Technology and ALBERTSONS INC 75, you can compare the effects of market volatilities on Amkor Technology and ALBERTSONS 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 ALBERTSONS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amkor Technology and ALBERTSONS.
Diversification Opportunities for Amkor Technology and ALBERTSONS
0.68 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Amkor and ALBERTSONS is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding Amkor Technology and ALBERTSONS INC 75 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ALBERTSONS INC 75 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 ALBERTSONS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ALBERTSONS INC 75 has no effect on the direction of Amkor Technology i.e., Amkor Technology and ALBERTSONS go up and down completely randomly.
Pair Corralation between Amkor Technology and ALBERTSONS
Given the investment horizon of 90 days Amkor Technology is expected to under-perform the ALBERTSONS. In addition to that, Amkor Technology is 5.34 times more volatile than ALBERTSONS INC 75. It trades about -0.06 of its total potential returns per unit of risk. ALBERTSONS INC 75 is currently generating about 0.14 per unit of volatility. If you would invest 10,123 in ALBERTSONS INC 75 on September 12, 2024 and sell it today you would earn a total of 131.00 from holding ALBERTSONS INC 75 or generate 1.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 32.81% |
| Values | Daily Returns |
Amkor Technology vs. ALBERTSONS INC 75
Performance |
| Timeline |
| Amkor Technology |
| ALBERTSONS INC 75 |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Good
Amkor Technology and ALBERTSONS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amkor Technology and ALBERTSONS
The main advantage of trading using opposite Amkor Technology and ALBERTSONS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amkor Technology position performs unexpectedly, ALBERTSONS 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 ALBERTSONS will offset losses from the drop in ALBERTSONS's long position.| Amkor Technology vs. Power Integrations | Amkor Technology vs. Diodes Incorporated | Amkor Technology vs. MACOM Technology Solutions | Amkor Technology vs. Cirrus Logic |
| ALBERTSONS vs. PepsiCo | ALBERTSONS vs. Anheuser Busch Inbev | ALBERTSONS vs. Fidus Investment Corp | ALBERTSONS vs. Diageo PLC ADR |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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