Correlation Between Kulicke and APACHE
Specify exactly 2 symbols:
By analyzing existing cross correlation between Kulicke and Soffa and APACHE P 6, you can compare the effects of market volatilities on Kulicke and APACHE 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 Kulicke with a short position of APACHE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kulicke and APACHE.
Diversification Opportunities for Kulicke and APACHE
Weak diversification
The 3 months correlation between Kulicke and APACHE is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Kulicke and Soffa and APACHE P 6 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on APACHE P 6 and Kulicke 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 Kulicke and Soffa are associated (or correlated) with APACHE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of APACHE P 6 has no effect on the direction of Kulicke i.e., Kulicke and APACHE go up and down completely randomly.
Pair Corralation between Kulicke and APACHE
Given the investment horizon of 90 days Kulicke and Soffa is expected to under-perform the APACHE. In addition to that, Kulicke is 1.27 times more volatile than APACHE P 6. It trades about -0.25 of its total potential returns per unit of risk. APACHE P 6 is currently generating about 0.08 per unit of volatility. If you would invest 9,860 in APACHE P 6 on December 30, 2024 and sell it today you would earn a total of 478.00 from holding APACHE P 6 or generate 4.85% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 62.9% |
Values | Daily Returns |
Kulicke and Soffa vs. APACHE P 6
Performance |
Timeline |
Kulicke and Soffa |
APACHE P 6 |
Kulicke and APACHE Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Kulicke and APACHE
The main advantage of trading using opposite Kulicke and APACHE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kulicke position performs unexpectedly, APACHE 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 APACHE will offset losses from the drop in APACHE's long position.Kulicke vs. Ultra Clean Holdings | Kulicke vs. Ichor Holdings | Kulicke vs. Entegris | Kulicke vs. Amtech Systems |
APACHE vs. Siriuspoint | APACHE vs. Procter Gamble | APACHE vs. Molina Healthcare | APACHE vs. Palomar Holdings |
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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
Other Complementary Tools
USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
Equity Valuation Check real value of public entities based on technical and fundamental data |