Correlation Between OneSpan and Ichor Holdings

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

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

Diversification Opportunities for OneSpan and Ichor Holdings

0.43

Correlation Coefficient

OneSpan  Ichor Holdings

Very weak diversification

The 3 months correlation between OneSpan and Ichor is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding OneSpan and Ichor Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ichor Holdings and OneSpan 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 OneSpan are associated (or correlated) with Ichor Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ichor Holdings has no effect on the direction of OneSpan i.e., OneSpan and Ichor Holdings go up and down completely randomly.

Pair Corralation between OneSpan and Ichor Holdings

Given the investment horizon of 90 days OneSpan is expected to generate 0.43 times more return on investment than Ichor Holdings. However, OneSpan is 2.34 times less risky than Ichor Holdings. It trades about -0.04 of its potential returns per unit of risk. Ichor Holdings is currently generating about -0.04 per unit of risk. If you would invest  1,734  in OneSpan on July 3, 2025 and sell it today you would lose (145.00) from holding OneSpan or give up 8.36% of portfolio value over 90 days.

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

OneSpan  vs.  Ichor Holdings

OneSpan

Risk-Adjusted Performance

Weakest

Over the last 90 days OneSpan has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest unsteady performance, the Stock's basic indicators remain healthy and the recent disarray on Wall Street may also be a sign of long period gains for the firm investors.

Ichor Holdings

Risk-Adjusted Performance

Weakest

Over the last 90 days Ichor Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. Even with uncertain performance in the last few months, the Stock's technical indicators remain relatively invariable which may send shares a bit higher in November 2025. The latest agitation may also be a sign of long-running up-swing for the enterprise retail investors.

Pair Trading with OneSpan and Ichor Holdings

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

The idea behind OneSpan and Ichor Holdings 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 Money Managers module to screen money managers from public funds and ETFs managed around the world.