Correlation Between Entegris and QuickLogic

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

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

Diversification Opportunities for Entegris and QuickLogic

0.73

Correlation Coefficient

Entegris  QuickLogic

Poor diversification

The 3 months correlation between Entegris and QuickLogic is 0.73. Overlapping area represents the amount of risk that can be diversified away by holding Entegris and QuickLogic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on QuickLogic and Entegris 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 Entegris are associated (or correlated) with QuickLogic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of QuickLogic has no effect on the direction of Entegris i.e., Entegris and QuickLogic go up and down completely randomly.

Pair Corralation between Entegris and QuickLogic

Given the investment horizon of 90 days Entegris is expected to under-perform the QuickLogic. But the stock apears to be less risky and, when comparing its historical volatility, Entegris is 1.32 times less risky than QuickLogic. The stock trades about -0.04 of its potential returns per unit of risk. The QuickLogic is currently generating about -0.01 of returns per unit of risk over similar time horizon. If you would invest  638.00  in QuickLogic on May 11, 2025 and sell it today you would lose (49.00) from holding QuickLogic or give up 7.68% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Significant
Accuracy	100.0%
Values	Daily Returns

Entegris  vs.  QuickLogic

Entegris

Risk-Adjusted Performance

Weakest

Over the last 90 days Entegris has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Stock's basic indicators remain stable and the current disturbance on Wall Street may also be a sign of long-run gains for the company stockholders.

QuickLogic

Risk-Adjusted Performance

Weakest

Over the last 90 days QuickLogic has generated negative risk-adjusted returns adding no value to investors with long positions. Despite quite persistent forward indicators, QuickLogic is not utilizing all of its potentials. The newest stock price mess, may contribute to short-term losses for the institutional investors.

Pair Trading with Entegris and QuickLogic

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

The idea behind Entegris and QuickLogic 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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.