Correlation Between Amkor Technology and Vienna Insurance
Can any of the company-specific risk be diversified away by investing in both Amkor Technology and Vienna Insurance 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 Amkor Technology and Vienna Insurance into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amkor Technology and Vienna Insurance Group, you can compare the effects of market volatilities on Amkor Technology and Vienna Insurance 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 Amkor Technology with a short position of Vienna Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amkor Technology and Vienna Insurance.
Diversification Opportunities for Amkor Technology and Vienna Insurance
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Amkor and Vienna is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Amkor Technology and Vienna Insurance Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vienna Insurance and Amkor Technology 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 Amkor Technology are associated (or correlated) with Vienna Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vienna Insurance has no effect on the direction of Amkor Technology i.e., Amkor Technology and Vienna Insurance go up and down completely randomly.
Pair Corralation between Amkor Technology and Vienna Insurance
If you would invest (100.00) in Vienna Insurance Group on December 11, 2024 and sell it today you would earn a total of 100.00 from holding Vienna Insurance Group or generate -100.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Amkor Technology vs. Vienna Insurance Group
Performance |
Timeline |
Amkor Technology |
Vienna Insurance |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Amkor Technology and Vienna Insurance Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Amkor Technology and Vienna Insurance
The main advantage of trading using opposite Amkor Technology and Vienna Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amkor Technology position performs unexpectedly, Vienna Insurance 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 Vienna Insurance will offset losses from the drop in Vienna Insurance's long position.Amkor Technology vs. SINGAPORE AIRLINES | Amkor Technology vs. Q2M Managementberatung AG | Amkor Technology vs. China Eastern Airlines | Amkor Technology vs. Platinum Investment Management |
Vienna Insurance vs. Media and Games | Vienna Insurance vs. Maple Leaf Foods | Vienna Insurance vs. Moneysupermarket Group PLC | Vienna Insurance vs. ATRESMEDIA |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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