>

Correlation Between ADVANCED MICRO and DOW

Analyzing existing cross correlation between ADVANCED MICRO FAB and DOW. You can compare the effects of market volatilities on ADVANCED MICRO and DOW 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 ADVANCED MICRO with a short position of DOW. Check out your portfolio center. Please also check ongoing floating volatility patterns of ADVANCED MICRO and DOW.
Symbolsvs
Compare

Comparative Performance

 Predicted Return Density 
    
  Returns 

ADVANCED MICRO FAB  vs.  DOW

 Performance (%) 
    
  Timeline 

Pair Volatility

Assuming 30 trading days horizon, ADVANCED MICRO FAB is expected to generate 10.88 times more return on investment than DOW. However, ADVANCED MICRO is 10.88 times more volatile than DOW. It trades about 0.4 of its potential returns per unit of risk. DOW is currently generating about 0.12 per unit of risk. If you would invest  7,840  in ADVANCED MICRO FAB on January 19, 2020 and sell it today you would earn a total of  12,670  from holding ADVANCED MICRO FAB or generate 161.61% return on investment over 30 days.

Pair Corralation between ADVANCED MICRO and DOW

-0.5
Time Period3 Months [change]
DirectionNegative 
StrengthVery Weak
Accuracy50.82%
ValuesDaily Returns

Diversification Opportunities for ADVANCED MICRO and DOW

ADVANCED MICRO FAB diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding ADVANCED MICRO FAB and DOW in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on DOW and ADVANCED MICRO 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 ADVANCED MICRO FAB are associated (or correlated) with DOW. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DOW has no effect on the direction of ADVANCED MICRO i.e. ADVANCED MICRO and DOW go up and down completely randomly.
    Optimize
Check out your portfolio center. Please also try 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.