Correlation Between TRADEGATE and Kulicke
Can any of the company-specific risk be diversified away by investing in both TRADEGATE and Kulicke 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 TRADEGATE and Kulicke into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between TRADEGATE and Kulicke and Soffa, you can compare the effects of market volatilities on TRADEGATE and Kulicke 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 TRADEGATE with a short position of Kulicke. Check out your portfolio center. Please also check ongoing floating volatility patterns of TRADEGATE and Kulicke.
Diversification Opportunities for TRADEGATE and Kulicke
Pay attention - limited upside
The 3 months correlation between TRADEGATE and Kulicke is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding TRADEGATE and Kulicke and Soffa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kulicke and Soffa and TRADEGATE 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 TRADEGATE are associated (or correlated) with Kulicke. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kulicke and Soffa has no effect on the direction of TRADEGATE i.e., TRADEGATE and Kulicke go up and down completely randomly.
Pair Corralation between TRADEGATE and Kulicke
If you would invest 8,950 in TRADEGATE on September 2, 2024 and sell it today you would earn a total of 100.00 from holding TRADEGATE or generate 1.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
TRADEGATE vs. Kulicke and Soffa
Performance |
| Timeline |
| TRADEGATE |
| Kulicke and Soffa |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
TRADEGATE and Kulicke Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TRADEGATE and Kulicke
The main advantage of trading using opposite TRADEGATE and Kulicke positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TRADEGATE position performs unexpectedly, Kulicke 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 Kulicke will offset losses from the drop in Kulicke's long position.| TRADEGATE vs. The Hanover Insurance | TRADEGATE vs. United Insurance Holdings | TRADEGATE vs. Consolidated Communications Holdings | TRADEGATE vs. Reinsurance Group of |
| Kulicke vs. SIMS METAL MGT | Kulicke vs. Arrow Electronics | Kulicke vs. FIREWEED METALS P | Kulicke vs. Renesas Electronics |
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 Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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