Correlation Between DigiAsia Corp and Axcelis Technologies

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

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

Diversification Opportunities for DigiAsia Corp and Axcelis Technologies

-0.38

Correlation Coefficient

DigiAsia Corp  Axcelis Technologies

Very good diversification

The 3 months correlation between DigiAsia and Axcelis is -0.38. Overlapping area represents the amount of risk that can be diversified away by holding DigiAsia Corp and Axcelis Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Axcelis Technologies and DigiAsia Corp 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 DigiAsia Corp are associated (or correlated) with Axcelis Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Axcelis Technologies has no effect on the direction of DigiAsia Corp i.e., DigiAsia Corp and Axcelis Technologies go up and down completely randomly.

Pair Corralation between DigiAsia Corp and Axcelis Technologies

Assuming the 90 days horizon DigiAsia Corp is expected to under-perform the Axcelis Technologies. In addition to that, DigiAsia Corp is 3.74 times more volatile than Axcelis Technologies. It trades about -0.15 of its total potential returns per unit of risk. Axcelis Technologies is currently generating about 0.07 per unit of volatility. If you would invest  7,454  in Axcelis Technologies on July 20, 2025 and sell it today you would earn a total of  834.00  from holding Axcelis Technologies or generate 11.19% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	67.19%
Values	Daily Returns

DigiAsia Corp  vs.  Axcelis Technologies

DigiAsia Corp

Risk-Adjusted Performance

Weakest

Over the last 90 days DigiAsia Corp has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of unsteady performance in the last few months, the Stock's basic indicators remain fairly stable which may send shares a bit higher in November 2025. The latest fuss may also be a sign of long-term up-swing for the venture sophisticated investors.

Axcelis Technologies

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in Axcelis Technologies are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively uncertain essential indicators, Axcelis Technologies unveiled solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with DigiAsia Corp and Axcelis Technologies

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

The idea behind DigiAsia Corp and Axcelis Technologies 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.

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 Transaction History module to view history of all your transactions and understand their impact on performance.