Correlation Between Kulicke and Volcan
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By analyzing existing cross correlation between Kulicke and Soffa and Volcan Compania Minera, you can compare the effects of market volatilities on Kulicke and Volcan 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 Volcan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kulicke and Volcan.
Diversification Opportunities for Kulicke and Volcan
Good diversification
The 3 months correlation between Kulicke and Volcan is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding Kulicke and Soffa and Volcan Compania Minera in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Volcan Compania Minera 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 Volcan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Volcan Compania Minera has no effect on the direction of Kulicke i.e., Kulicke and Volcan go up and down completely randomly.
Pair Corralation between Kulicke and Volcan
Given the investment horizon of 90 days Kulicke and Soffa is expected to generate 0.46 times more return on investment than Volcan. However, Kulicke and Soffa is 2.18 times less risky than Volcan. It trades about 0.21 of its potential returns per unit of risk. Volcan Compania Minera is currently generating about -0.24 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 | 38.1% |
| Values | Daily Returns |
Kulicke and Soffa vs. Volcan Compania Minera
Performance |
| Timeline |
| Kulicke and Soffa |
| Volcan Compania Minera |
Kulicke and Volcan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kulicke and Volcan
The main advantage of trading using opposite Kulicke and Volcan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kulicke position performs unexpectedly, Volcan 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 Volcan will offset losses from the drop in Volcan's long position.| Kulicke vs. NXP Semiconductors NV | Kulicke vs. Analog Devices | Kulicke vs. Monolithic Power Systems | Kulicke vs. ON Semiconductor |
| Volcan vs. NETGEAR | Volcan vs. Canlan Ice Sports | Volcan vs. Playtika Holding Corp | Volcan vs. Playtech plc |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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