Correlation Between Amkor Technology and 197677AG2
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By analyzing existing cross correlation between Amkor Technology and HCA 769 percent, you can compare the effects of market volatilities on Amkor Technology and 197677AG2 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 197677AG2. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amkor Technology and 197677AG2.
Diversification Opportunities for Amkor Technology and 197677AG2
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Amkor and 197677AG2 is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Amkor Technology and HCA 769 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HCA 769 percent 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 197677AG2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HCA 769 percent has no effect on the direction of Amkor Technology i.e., Amkor Technology and 197677AG2 go up and down completely randomly.
Pair Corralation between Amkor Technology and 197677AG2
Given the investment horizon of 90 days Amkor Technology is expected to generate 7.22 times more return on investment than 197677AG2. However, Amkor Technology is 7.22 times more volatile than HCA 769 percent. It trades about 0.05 of its potential returns per unit of risk. HCA 769 percent is currently generating about -0.01 per unit of risk. If you would invest 2,023 in Amkor Technology on August 25, 2024 and sell it today you would earn a total of 631.00 from holding Amkor Technology or generate 31.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 93.73% |
| Values | Daily Returns |
Amkor Technology vs. HCA 769 percent
Performance |
| Timeline |
| Amkor Technology |
| HCA 769 percent |
Amkor Technology and 197677AG2 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amkor Technology and 197677AG2
The main advantage of trading using opposite Amkor Technology and 197677AG2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amkor Technology position performs unexpectedly, 197677AG2 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 197677AG2 will offset losses from the drop in 197677AG2's long position.| Amkor Technology vs. Teradyne | Amkor Technology vs. Ichor Holdings | Amkor Technology vs. Amtech Systems | Amkor Technology vs. Veeco Instruments |
| 197677AG2 vs. Marti Technologies | 197677AG2 vs. Aspen Insurance Holdings | 197677AG2 vs. Maiden Holdings | 197677AG2 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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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