Correlation Between Amkor Technology and Xiabuxiabu Catering
Can any of the company-specific risk be diversified away by investing in both Amkor Technology and Xiabuxiabu Catering at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Amkor Technology and Xiabuxiabu Catering into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amkor Technology and Xiabuxiabu Catering Management, you can compare the effects of market volatilities on Amkor Technology and Xiabuxiabu Catering 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 Xiabuxiabu Catering. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amkor Technology and Xiabuxiabu Catering.
Diversification Opportunities for Amkor Technology and Xiabuxiabu Catering
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Amkor and Xiabuxiabu is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Amkor Technology and Xiabuxiabu Catering Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xiabuxiabu Catering 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 Xiabuxiabu Catering. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xiabuxiabu Catering has no effect on the direction of Amkor Technology i.e., Amkor Technology and Xiabuxiabu Catering go up and down completely randomly.
Pair Corralation between Amkor Technology and Xiabuxiabu Catering
If you would invest 12.00 in Xiabuxiabu Catering Management on December 31, 2024 and sell it today you would earn a total of 0.00 from holding Xiabuxiabu Catering Management or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Amkor Technology vs. Xiabuxiabu Catering Management
Performance |
| Timeline |
| Amkor Technology |
| Xiabuxiabu Catering |
Amkor Technology and Xiabuxiabu Catering Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amkor Technology and Xiabuxiabu Catering
The main advantage of trading using opposite Amkor Technology and Xiabuxiabu Catering positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amkor Technology position performs unexpectedly, Xiabuxiabu Catering 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 Xiabuxiabu Catering will offset losses from the drop in Xiabuxiabu Catering's long position.| Amkor Technology vs. Tigo Energy | Amkor Technology vs. SentinelOne | Amkor Technology vs. BlackBerry | Amkor Technology vs. Global Blue Group |
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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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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