Correlation Between EnLink and Kulicke
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By analyzing existing cross correlation between EnLink Midstream Partners and Kulicke and Soffa, you can compare the effects of market volatilities on EnLink 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 EnLink with a short position of Kulicke. Check out your portfolio center. Please also check ongoing floating volatility patterns of EnLink and Kulicke.
Diversification Opportunities for EnLink and Kulicke
Excellent diversification
The 3 months correlation between EnLink and Kulicke is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding EnLink Midstream Partners 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 EnLink 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 EnLink Midstream Partners 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 EnLink i.e., EnLink and Kulicke go up and down completely randomly.
Pair Corralation between EnLink and Kulicke
Assuming the 90 days trading horizon EnLink Midstream Partners is expected to generate 30.32 times more return on investment than Kulicke. However, EnLink is 30.32 times more volatile than Kulicke and Soffa. It trades about 0.06 of its potential returns per unit of risk. Kulicke and Soffa is currently generating about 0.01 per unit of risk. If you would invest 8,451 in EnLink Midstream Partners on September 3, 2024 and sell it today you would lose (621.00) from holding EnLink Midstream Partners or give up 7.35% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 87.27% |
| Values | Daily Returns |
EnLink Midstream Partners vs. Kulicke and Soffa
Performance |
| Timeline |
| EnLink Midstream Partners |
| Kulicke and Soffa |
EnLink and Kulicke Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with EnLink and Kulicke
The main advantage of trading using opposite EnLink and Kulicke positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EnLink 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.| EnLink vs. Kulicke and Soffa | EnLink vs. MagnaChip Semiconductor | EnLink vs. MACOM Technology Solutions | EnLink vs. Allient |
| 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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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