Correlation Between Kulicke and GLENLN

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Can any of the company-specific risk be diversified away by investing in both Kulicke and GLENLN 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 Kulicke and GLENLN into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kulicke and Soffa and GLENLN 1625 27 APR 26, you can compare the effects of market volatilities on Kulicke and GLENLN 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 Kulicke with a short position of GLENLN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kulicke and GLENLN.

Diversification Opportunities for Kulicke and GLENLN

-0.05
  Correlation Coefficient

Good diversification

The 3 months correlation between Kulicke and GLENLN is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding Kulicke and Soffa and GLENLN 1625 27 APR 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GLENLN 1625 27 and Kulicke 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 Kulicke and Soffa are associated (or correlated) with GLENLN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GLENLN 1625 27 has no effect on the direction of Kulicke i.e., Kulicke and GLENLN go up and down completely randomly.

Pair Corralation between Kulicke and GLENLN

Given the investment horizon of 90 days Kulicke and Soffa is expected to generate 3.71 times more return on investment than GLENLN. However, Kulicke is 3.71 times more volatile than GLENLN 1625 27 APR 26. It trades about 0.01 of its potential returns per unit of risk. GLENLN 1625 27 APR 26 is currently generating about 0.02 per unit of risk. If you would invest  5,019  in Kulicke and Soffa on September 14, 2024 and sell it today you would lose (71.00) from holding Kulicke and Soffa or give up 1.41% of portfolio value over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthInsignificant
Accuracy66.17%
ValuesDaily Returns

Kulicke and Soffa  vs.  GLENLN 1625 27 APR 26

 Performance 
       Timeline  
Kulicke and Soffa 

Risk-Adjusted Performance

11 of 100

 
Weak
 
Strong
Good
Compared to the overall equity markets, risk-adjusted returns on investments in Kulicke and Soffa are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. In spite of rather uncertain forward indicators, Kulicke exhibited solid returns over the last few months and may actually be approaching a breakup point.
GLENLN 1625 27 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days GLENLN 1625 27 APR 26 has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, GLENLN is not utilizing all of its potentials. The latest stock price disturbance, may contribute to short-term losses for the investors.

Kulicke and GLENLN Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Kulicke and GLENLN

The main advantage of trading using opposite Kulicke and GLENLN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kulicke position performs unexpectedly, GLENLN 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 GLENLN will offset losses from the drop in GLENLN's long position.
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The idea behind Kulicke and Soffa and GLENLN 1625 27 APR 26 pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.

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