Correlation Between Amkor Technology and EDPPL
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By analyzing existing cross correlation between Amkor Technology and EDPPL 171 24 JAN 28, you can compare the effects of market volatilities on Amkor Technology and EDPPL 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 EDPPL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amkor Technology and EDPPL.
Diversification Opportunities for Amkor Technology and EDPPL
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Amkor and EDPPL is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Amkor Technology and EDPPL 171 24 JAN 28 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EDPPL 171 24 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 EDPPL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EDPPL 171 24 has no effect on the direction of Amkor Technology i.e., Amkor Technology and EDPPL go up and down completely randomly.
Pair Corralation between Amkor Technology and EDPPL
Given the investment horizon of 90 days Amkor Technology is expected to generate 1.08 times more return on investment than EDPPL. However, Amkor Technology is 1.08 times more volatile than EDPPL 171 24 JAN 28. It trades about 0.1 of its potential returns per unit of risk. EDPPL 171 24 JAN 28 is currently generating about -0.22 per unit of risk. If you would invest 2,555 in Amkor Technology on September 15, 2024 and sell it today you would earn a total of 99.00 from holding Amkor Technology or generate 3.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 80.95% |
| Values | Daily Returns |
Amkor Technology vs. EDPPL 171 24 JAN 28
Performance |
| Timeline |
| Amkor Technology |
| EDPPL 171 24 |
Amkor Technology and EDPPL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amkor Technology and EDPPL
The main advantage of trading using opposite Amkor Technology and EDPPL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amkor Technology position performs unexpectedly, EDPPL 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 EDPPL will offset losses from the drop in EDPPL's long position.| Amkor Technology vs. ON Semiconductor | Amkor Technology vs. Globalfoundries | Amkor Technology vs. Wisekey International Holding | Amkor Technology vs. Nano Labs |
| EDPPL vs. Amkor Technology | EDPPL vs. Elmos Semiconductor SE | EDPPL vs. Shake Shack | EDPPL vs. Arm Holdings plc |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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