Correlation Between South West and Camtek
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By analyzing existing cross correlation between South West Pinnacle and Camtek, you can compare the effects of market volatilities on South West and Camtek 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 South West with a short position of Camtek. Check out your portfolio center. Please also check ongoing floating volatility patterns of South West and Camtek.
Diversification Opportunities for South West and Camtek
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between South and Camtek is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding South West Pinnacle and Camtek in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Camtek and South West 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 South West Pinnacle are associated (or correlated) with Camtek. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Camtek has no effect on the direction of South West i.e., South West and Camtek go up and down completely randomly.
Pair Corralation between South West and Camtek
Assuming the 90 days trading horizon South West Pinnacle is expected to under-perform the Camtek. In addition to that, South West is 1.05 times more volatile than Camtek. It trades about -0.08 of its total potential returns per unit of risk. Camtek is currently generating about 0.08 per unit of volatility. If you would invest 7,995 in Camtek on February 6, 2024 and sell it today you would earn a total of 333.00 from holding Camtek or generate 4.17% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 85.71% |
Values | Daily Returns |
South West Pinnacle vs. Camtek
Performance |
Timeline |
South West Pinnacle |
Camtek |
South West and Camtek Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with South West and Camtek
The main advantage of trading using opposite South West and Camtek positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if South West position performs unexpectedly, Camtek 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 Camtek will offset losses from the drop in Camtek's long position.South West vs. Quess Corp Limited | South West vs. Infosys Limited | South West vs. SIS LIMITED | South West vs. State Bank of |
Camtek vs. Applied Materials | Camtek vs. ASML Holding NV | Camtek vs. Axcelis Technologies | Camtek vs. Lam Research Corp |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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