Correlation Between QuickLogic and Hauppauge Digital

Can any of the company-specific risk be diversified away by investing in both QuickLogic and Hauppauge Digital 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 QuickLogic and Hauppauge Digital into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between QuickLogic and Hauppauge Digital OTC, you can compare the effects of market volatilities on QuickLogic and Hauppauge Digital 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 QuickLogic with a short position of Hauppauge Digital. Check out your portfolio center. Please also check ongoing floating volatility patterns of QuickLogic and Hauppauge Digital.

Diversification Opportunities for QuickLogic and Hauppauge Digital

0.46

Correlation Coefficient

QuickLogic  Hauppauge Digital

Very weak diversification

The 3 months correlation between QuickLogic and Hauppauge is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding QuickLogic and Hauppauge Digital OTC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hauppauge Digital OTC and QuickLogic 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 QuickLogic are associated (or correlated) with Hauppauge Digital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hauppauge Digital OTC has no effect on the direction of QuickLogic i.e., QuickLogic and Hauppauge Digital go up and down completely randomly.

Pair Corralation between QuickLogic and Hauppauge Digital

If you would invest  817.00  in QuickLogic on October 5, 2024 and sell it today you would earn a total of  386.00  from holding QuickLogic or generate 47.25% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Weak
Accuracy	1.61%
Values	Daily Returns

QuickLogic  vs.  Hauppauge Digital OTC

QuickLogic

Risk-Adjusted Performance

11 of 100

OK

Compared to the overall equity markets, risk-adjusted returns on investments in QuickLogic are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. Despite quite abnormal forward indicators, QuickLogic disclosed solid returns over the last few months and may actually be approaching a breakup point.

Hauppauge Digital OTC

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Hauppauge Digital OTC has generated negative risk-adjusted returns adding no value to investors with long positions. Even with relatively invariable basic indicators, Hauppauge Digital is not utilizing all of its potentials. The latest stock price agitation, may contribute to short-term losses for the retail investors.

Pair Trading with QuickLogic and Hauppauge Digital

The main advantage of trading using opposite QuickLogic and Hauppauge Digital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if QuickLogic position performs unexpectedly, Hauppauge Digital 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 Hauppauge Digital will offset losses from the drop in Hauppauge Digital's long position.

The idea behind QuickLogic and Hauppauge Digital OTC pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.