Correlation Between Kulicke and SOUTHERN
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By analyzing existing cross correlation between Kulicke and Soffa and SOUTHERN CALIF EDISON, you can compare the effects of market volatilities on Kulicke and SOUTHERN 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 SOUTHERN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kulicke and SOUTHERN.
Diversification Opportunities for Kulicke and SOUTHERN
Very good diversification
The 3 months correlation between Kulicke and SOUTHERN is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Kulicke and Soffa and SOUTHERN CALIF EDISON in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SOUTHERN CALIF EDISON 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 SOUTHERN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SOUTHERN CALIF EDISON has no effect on the direction of Kulicke i.e., Kulicke and SOUTHERN go up and down completely randomly.
Pair Corralation between Kulicke and SOUTHERN
Given the investment horizon of 90 days Kulicke and Soffa is expected to generate 2.12 times more return on investment than SOUTHERN. However, Kulicke is 2.12 times more volatile than SOUTHERN CALIF EDISON. It trades about 0.21 of its potential returns per unit of risk. SOUTHERN CALIF EDISON is currently generating about 0.1 per unit of risk. If you would invest 4,592 in Kulicke and Soffa on September 4, 2024 and sell it today you would earn a total of 462.00 from holding Kulicke and Soffa or generate 10.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 76.19% |
| Values | Daily Returns |
Kulicke and Soffa vs. SOUTHERN CALIF EDISON
Performance |
| Timeline |
| Kulicke and Soffa |
| SOUTHERN CALIF EDISON |
Kulicke and SOUTHERN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kulicke and SOUTHERN
The main advantage of trading using opposite Kulicke and SOUTHERN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kulicke position performs unexpectedly, SOUTHERN 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 SOUTHERN will offset losses from the drop in SOUTHERN's long position.| Kulicke vs. NXP Semiconductors NV | Kulicke vs. Analog Devices | Kulicke vs. Monolithic Power Systems | Kulicke vs. ON Semiconductor |
| SOUTHERN vs. Tower One Wireless | SOUTHERN vs. GMS Inc | SOUTHERN vs. Parker Hannifin | SOUTHERN vs. Eldorado Gold Corp |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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