Correlation Between Dalata Hotel and Amkor Technology
Can any of the company-specific risk be diversified away by investing in both Dalata Hotel and Amkor Technology 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 Dalata Hotel and Amkor Technology into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Dalata Hotel Group and Amkor Technology, you can compare the effects of market volatilities on Dalata Hotel and Amkor Technology 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 Dalata Hotel with a short position of Amkor Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dalata Hotel and Amkor Technology.
Diversification Opportunities for Dalata Hotel and Amkor Technology
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Dalata and Amkor is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Dalata Hotel Group and Amkor Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amkor Technology and Dalata Hotel 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 Dalata Hotel Group are associated (or correlated) with Amkor Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amkor Technology has no effect on the direction of Dalata Hotel i.e., Dalata Hotel and Amkor Technology go up and down completely randomly.
Pair Corralation between Dalata Hotel and Amkor Technology
Assuming the 90 days horizon Dalata Hotel Group is expected to generate 0.71 times more return on investment than Amkor Technology. However, Dalata Hotel Group is 1.41 times less risky than Amkor Technology. It trades about -0.03 of its potential returns per unit of risk. Amkor Technology is currently generating about -0.22 per unit of risk. If you would invest 477.00 in Dalata Hotel Group on November 28, 2024 and sell it today you would lose (7.00) from holding Dalata Hotel Group or give up 1.47% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dalata Hotel Group vs. Amkor Technology
Performance |
| Timeline |
| Dalata Hotel Group |
| Amkor Technology |
Dalata Hotel and Amkor Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dalata Hotel and Amkor Technology
The main advantage of trading using opposite Dalata Hotel and Amkor Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dalata Hotel position performs unexpectedly, Amkor Technology 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 Amkor Technology will offset losses from the drop in Amkor Technology's long position.| Dalata Hotel vs. The Yokohama Rubber | Dalata Hotel vs. Goodyear Tire Rubber | Dalata Hotel vs. Fortescue Metals Group | Dalata Hotel vs. GREENX METALS LTD |
| Amkor Technology vs. NVIDIA | Amkor Technology vs. NVIDIA | Amkor Technology vs. Taiwan Semiconductor Manufacturing | Amkor Technology vs. Broadcom |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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