Correlation Between Amkor Technology and MCBRAC
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By analyzing existing cross correlation between Amkor Technology and MCBRAC 725 30 JUN 31, you can compare the effects of market volatilities on Amkor Technology and MCBRAC 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 MCBRAC. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amkor Technology and MCBRAC.
Diversification Opportunities for Amkor Technology and MCBRAC
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Amkor and MCBRAC is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Amkor Technology and MCBRAC 725 30 JUN 31 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MCBRAC 725 30 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 MCBRAC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MCBRAC 725 30 has no effect on the direction of Amkor Technology i.e., Amkor Technology and MCBRAC go up and down completely randomly.
Pair Corralation between Amkor Technology and MCBRAC
Given the investment horizon of 90 days Amkor Technology is expected to under-perform the MCBRAC. But the stock apears to be less risky and, when comparing its historical volatility, Amkor Technology is 1.49 times less risky than MCBRAC. The stock trades about -0.04 of its potential returns per unit of risk. The MCBRAC 725 30 JUN 31 is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 7,725 in MCBRAC 725 30 JUN 31 on December 12, 2024 and sell it today you would lose (570.00) from holding MCBRAC 725 30 JUN 31 or give up 7.38% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 47.57% |
| Values | Daily Returns |
Amkor Technology vs. MCBRAC 725 30 JUN 31
Performance |
| Timeline |
| Amkor Technology |
| MCBRAC 725 30 |
Amkor Technology and MCBRAC Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amkor Technology and MCBRAC
The main advantage of trading using opposite Amkor Technology and MCBRAC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amkor Technology position performs unexpectedly, MCBRAC 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 MCBRAC will offset losses from the drop in MCBRAC's long position.| Amkor Technology vs. Power Integrations | ||
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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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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