Correlation Between YDUQS Participacoes and Amkor Technology
Can any of the company-specific risk be diversified away by investing in both YDUQS Participacoes and Amkor Technology 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 YDUQS Participacoes and Amkor Technology into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between YDUQS Participacoes SA and Amkor Technology, you can compare the effects of market volatilities on YDUQS Participacoes 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 YDUQS Participacoes with a short position of Amkor Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of YDUQS Participacoes and Amkor Technology.
Diversification Opportunities for YDUQS Participacoes and Amkor Technology
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between YDUQS and Amkor is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding YDUQS Participacoes SA and Amkor Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amkor Technology and YDUQS Participacoes 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 YDUQS Participacoes SA 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 YDUQS Participacoes i.e., YDUQS Participacoes and Amkor Technology go up and down completely randomly.
Pair Corralation between YDUQS Participacoes and Amkor Technology
If you would invest 2,417 in Amkor Technology on December 1, 2024 and sell it today you would lose (307.00) from holding Amkor Technology or give up 12.7% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
YDUQS Participacoes SA vs. Amkor Technology
Performance |
| Timeline |
| YDUQS Participacoes |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Amkor Technology |
YDUQS Participacoes and Amkor Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with YDUQS Participacoes and Amkor Technology
The main advantage of trading using opposite YDUQS Participacoes and Amkor Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if YDUQS Participacoes 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.| YDUQS Participacoes vs. Sphere 3D Corp | ||
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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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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