Correlation Between ASML HOLDING and InTest
Can any of the company-specific risk be diversified away by investing in both ASML HOLDING and InTest 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 ASML HOLDING and InTest into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ASML HOLDING NY and inTest, you can compare the effects of market volatilities on ASML HOLDING and InTest 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 ASML HOLDING with a short position of InTest. Check out your portfolio center. Please also check ongoing floating volatility patterns of ASML HOLDING and InTest.
Diversification Opportunities for ASML HOLDING and InTest
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between ASML and InTest is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding ASML HOLDING NY and inTest in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on inTest and ASML HOLDING 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 ASML HOLDING NY are associated (or correlated) with InTest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of inTest has no effect on the direction of ASML HOLDING i.e., ASML HOLDING and InTest go up and down completely randomly.
Pair Corralation between ASML HOLDING and InTest
Assuming the 90 days trading horizon ASML HOLDING NY is expected to generate 0.74 times more return on investment than InTest. However, ASML HOLDING NY is 1.36 times less risky than InTest. It trades about 0.27 of its potential returns per unit of risk. inTest is currently generating about 0.14 per unit of risk. If you would invest 84,687 in ASML HOLDING NY on November 24, 2025 and sell it today you would earn a total of 41,313 from holding ASML HOLDING NY or generate 48.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
ASML HOLDING NY vs. inTest
Performance |
| Timeline |
| ASML HOLDING NY |
| inTest |
ASML HOLDING and InTest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ASML HOLDING and InTest
The main advantage of trading using opposite ASML HOLDING and InTest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ASML HOLDING position performs unexpectedly, InTest 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 InTest will offset losses from the drop in InTest's long position.| ASML HOLDING vs. PT Bank Mandiri | ASML HOLDING vs. BK MANDIRI ADR20 | ASML HOLDING vs. PT Bank Rakyat | ASML HOLDING vs. Samsung Electronics Co |
| InTest vs. Amtech Systems | InTest vs. MagnaChip Semiconductor | InTest vs. QuickLogic | InTest vs. Mobix Labs |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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