Correlation Between Sinclair and Amkor Technology
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sinclair Television Group and Amkor Technology, you can compare the effects of market volatilities on Sinclair and Amkor Technology 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 Sinclair with a short position of Amkor Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sinclair and Amkor Technology.
Diversification Opportunities for Sinclair and Amkor Technology
-0.79 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Sinclair and Amkor is -0.79. Overlapping area represents the amount of risk that can be diversified away by holding Sinclair Television Group and Amkor Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amkor Technology and Sinclair 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 Sinclair Television Group are associated (or correlated) with Amkor Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amkor Technology has no effect on the direction of Sinclair i.e., Sinclair and Amkor Technology go up and down completely randomly.
Pair Corralation between Sinclair and Amkor Technology
Assuming the 90 days trading horizon Sinclair is expected to generate 1.19 times less return on investment than Amkor Technology. But when comparing it to its historical volatility, Sinclair Television Group is 1.62 times less risky than Amkor Technology. It trades about 0.02 of its potential returns per unit of risk. Amkor Technology is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 2,629 in Amkor Technology on September 2, 2024 and sell it today you would earn a total of 15.00 from holding Amkor Technology or generate 0.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 57.53% |
| Values | Daily Returns |
Sinclair Television Group vs. Amkor Technology
Performance |
| Timeline |
| Sinclair Television |
| Amkor Technology |
Sinclair and Amkor Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sinclair and Amkor Technology
The main advantage of trading using opposite Sinclair and Amkor Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sinclair position performs unexpectedly, Amkor Technology 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 Amkor Technology will offset losses from the drop in Amkor Technology's long position.| Sinclair vs. Visteon Corp | Sinclair vs. Nike Inc | Sinclair vs. Tesla Inc | Sinclair vs. Tandy Leather Factory |
| Amkor Technology vs. NXP Semiconductors NV | Amkor Technology vs. GSI Technology | Amkor Technology vs. MaxLinear | Amkor Technology vs. Texas Instruments Incorporated |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
Other Complementary Tools
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Commodity Directory Find actively traded commodities issued by global exchanges |