Correlation Between Kulicke and GRUPO
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By analyzing existing cross correlation between Kulicke and Soffa and GRUPO TELEVISA S, you can compare the effects of market volatilities on Kulicke and GRUPO 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 GRUPO. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kulicke and GRUPO.
Diversification Opportunities for Kulicke and GRUPO
Very good diversification
The 3 months correlation between Kulicke and GRUPO is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding Kulicke and Soffa and GRUPO TELEVISA S in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GRUPO TELEVISA S 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 GRUPO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GRUPO TELEVISA S has no effect on the direction of Kulicke i.e., Kulicke and GRUPO go up and down completely randomly.
Pair Corralation between Kulicke and GRUPO
Given the investment horizon of 90 days Kulicke is expected to generate 2.38 times less return on investment than GRUPO. But when comparing it to its historical volatility, Kulicke and Soffa is 2.21 times less risky than GRUPO. It trades about 0.13 of its potential returns per unit of risk. GRUPO TELEVISA S is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest 9,495 in GRUPO TELEVISA S on September 3, 2024 and sell it today you would earn a total of 568.00 from holding GRUPO TELEVISA S or generate 5.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 50.0% |
| Values | Daily Returns |
Kulicke and Soffa vs. GRUPO TELEVISA S
Performance |
| Timeline |
| Kulicke and Soffa |
| GRUPO TELEVISA S |
Kulicke and GRUPO Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kulicke and GRUPO
The main advantage of trading using opposite Kulicke and GRUPO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kulicke position performs unexpectedly, GRUPO 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 GRUPO will offset losses from the drop in GRUPO's long position.| Kulicke vs. Power Integrations | Kulicke vs. Diodes Incorporated | Kulicke vs. MACOM Technology Solutions | Kulicke vs. Cirrus Logic |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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