Correlation Between Amkor Technology and 04010LBD4
Specify exactly 2 symbols:
By analyzing existing cross correlation between Amkor Technology and ARCC 2875 15 JUN 27, you can compare the effects of market volatilities on Amkor Technology and 04010LBD4 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 04010LBD4. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amkor Technology and 04010LBD4.
Diversification Opportunities for Amkor Technology and 04010LBD4
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Amkor and 04010LBD4 is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding Amkor Technology and ARCC 2875 15 JUN 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ARCC 2875 15 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 04010LBD4. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ARCC 2875 15 has no effect on the direction of Amkor Technology i.e., Amkor Technology and 04010LBD4 go up and down completely randomly.
Pair Corralation between Amkor Technology and 04010LBD4
Given the investment horizon of 90 days Amkor Technology is expected to generate 1.73 times more return on investment than 04010LBD4. However, Amkor Technology is 1.73 times more volatile than ARCC 2875 15 JUN 27. It trades about 0.05 of its potential returns per unit of risk. ARCC 2875 15 JUN 27 is currently generating about -0.16 per unit of risk. If you would invest 2,600 in Amkor Technology on September 2, 2024 and sell it today you would earn a total of 44.00 from holding Amkor Technology or generate 1.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Amkor Technology vs. ARCC 2875 15 JUN 27
Performance |
| Timeline |
| Amkor Technology |
| ARCC 2875 15 |
Amkor Technology and 04010LBD4 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amkor Technology and 04010LBD4
The main advantage of trading using opposite Amkor Technology and 04010LBD4 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amkor Technology position performs unexpectedly, 04010LBD4 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 04010LBD4 will offset losses from the drop in 04010LBD4's long position.| Amkor Technology vs. NXP Semiconductors NV | Amkor Technology vs. GSI Technology | Amkor Technology vs. MaxLinear | Amkor Technology vs. Texas Instruments Incorporated |
| 04010LBD4 vs. NETGEAR | 04010LBD4 vs. Semtech | 04010LBD4 vs. ACG Metals Limited | 04010LBD4 vs. Amkor Technology |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
Other Complementary Tools
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA |