Correlation Between Kulicke and 78490FMG1
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By analyzing existing cross correlation between Kulicke and Soffa and US78490FMG18, you can compare the effects of market volatilities on Kulicke and 78490FMG1 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 78490FMG1. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kulicke and 78490FMG1.
Diversification Opportunities for Kulicke and 78490FMG1
Poor diversification
The 3 months correlation between Kulicke and 78490FMG1 is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding Kulicke and Soffa and US78490FMG18 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on US78490FMG18 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 78490FMG1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of US78490FMG18 has no effect on the direction of Kulicke i.e., Kulicke and 78490FMG1 go up and down completely randomly.
Pair Corralation between Kulicke and 78490FMG1
Given the investment horizon of 90 days Kulicke is expected to generate 1.4 times less return on investment than 78490FMG1. In addition to that, Kulicke is 1.05 times more volatile than US78490FMG18. It trades about 0.18 of its total potential returns per unit of risk. US78490FMG18 is currently generating about 0.27 per unit of volatility. If you would invest 8,794 in US78490FMG18 on September 15, 2024 and sell it today you would earn a total of 296.00 from holding US78490FMG18 or generate 3.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 28.57% |
| Values | Daily Returns |
Kulicke and Soffa vs. US78490FMG18
Performance |
| Timeline |
| Kulicke and Soffa |
| US78490FMG18 |
Kulicke and 78490FMG1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kulicke and 78490FMG1
The main advantage of trading using opposite Kulicke and 78490FMG1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kulicke position performs unexpectedly, 78490FMG1 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 78490FMG1 will offset losses from the drop in 78490FMG1's long position.| Kulicke vs. ON Semiconductor | Kulicke vs. Globalfoundries | Kulicke vs. Wisekey International Holding | Kulicke vs. Nano Labs |
| 78490FMG1 vs. AEP TEX INC | 78490FMG1 vs. US BANK NATIONAL | 78490FMG1 vs. Alphabet Inc Class C | 78490FMG1 vs. InMode |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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