Correlation Between ASM International and Kulicke
Can any of the company-specific risk be diversified away by investing in both ASM International and Kulicke 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 ASM International and Kulicke into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ASM International NV and Kulicke and Soffa, you can compare the effects of market volatilities on ASM International and Kulicke 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 ASM International with a short position of Kulicke. Check out your portfolio center. Please also check ongoing floating volatility patterns of ASM International and Kulicke.
Diversification Opportunities for ASM International and Kulicke
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ASM and Kulicke is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ASM International NV and Kulicke and Soffa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kulicke and Soffa and ASM International 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 ASM International NV are associated (or correlated) with Kulicke. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kulicke and Soffa has no effect on the direction of ASM International i.e., ASM International and Kulicke go up and down completely randomly.
Pair Corralation between ASM International and Kulicke
If you would invest 26,823 in ASM International NV on August 27, 2024 and sell it today you would earn a total of 23,437 from holding ASM International NV or generate 87.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
ASM International NV vs. Kulicke and Soffa
Performance |
| Timeline |
| ASM International |
| Kulicke and Soffa |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
ASM International and Kulicke Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ASM International and Kulicke
The main advantage of trading using opposite ASM International and Kulicke positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ASM International position performs unexpectedly, Kulicke 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 Kulicke will offset losses from the drop in Kulicke's long position.| ASM International vs. ASML HOLDING NY | ASM International vs. Applied Materials | ASM International vs. Superior Plus Corp | ASM International vs. NMI Holdings |
| Kulicke vs. Corporate Travel Management | Kulicke vs. INFORMATION SVC GRP | Kulicke vs. DOCDATA | Kulicke vs. Fidelity National Information |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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