Correlation Between Amtech Systems and ASM International
Can any of the company-specific risk be diversified away by investing in both Amtech Systems and ASM International 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 Amtech Systems and ASM International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amtech Systems and ASM International NV, you can compare the effects of market volatilities on Amtech Systems and ASM International 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 Amtech Systems with a short position of ASM International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amtech Systems and ASM International.
Diversification Opportunities for Amtech Systems and ASM International
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Amtech and ASM is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Amtech Systems and ASM International NV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ASM International and Amtech Systems 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 Amtech Systems are associated (or correlated) with ASM International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ASM International has no effect on the direction of Amtech Systems i.e., Amtech Systems and ASM International go up and down completely randomly.
Pair Corralation between Amtech Systems and ASM International
If you would invest 365.00 in Amtech Systems on May 21, 2025 and sell it today you would earn a total of 223.00 from holding Amtech Systems or generate 61.1% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Amtech Systems vs. ASM International NV
Performance |
Timeline |
Amtech Systems |
ASM International |
Risk-Adjusted Performance
Weakest
Weak | Strong |
Amtech Systems and ASM International Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Amtech Systems and ASM International
The main advantage of trading using opposite Amtech Systems and ASM International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amtech Systems position performs unexpectedly, ASM International 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 ASM International will offset losses from the drop in ASM International's long position.Amtech Systems vs. Aehr Test Systems | Amtech Systems vs. AXT Inc | Amtech Systems vs. Ichor Holdings | Amtech Systems vs. IPG Photonics |
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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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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