Correlation Analysis Between Corning Incorporated and Amphenol

This module allows you to analyze existing cross correlation between Corning Incorporated and Amphenol Corporation. You can compare the effects of market volatilities on Corning Incorporated and Amphenol 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 Corning Incorporated with a short position of Amphenol. See also your portfolio center. Please also check ongoing floating volatility patterns of Corning Incorporated and Amphenol.
Horizon     30 Days    Login   to change
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Comparative Performance

Corning Incorporated  

Risk-Adjusted Performance

Over the last 30 days Corning Incorporated has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite abnormal performance in the last few months, the Stock's primary indicators remain fairly stable which may send shares a bit higher in October 2019. The continuing fuss may also be a sign of long-term up-swing for the venture directors.

Risk-Adjusted Performance

Over the last 30 days Amphenol Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, Amphenol is not utilizing all of its potentials. The continuing stock price disturbance, may contribute to mid-run losses for the stockholder.

Corning Incorporated and Amphenol Volatility Contrast

 Predicted Return Density 

Corning Incorporated  vs.  Amphenol Corp.

 Performance (%) 

Pair Volatility

Considering 30-days investment horizon, Corning Incorporated is expected to under-perform the Amphenol. In addition to that, Corning Incorporated is 1.23 times more volatile than Amphenol Corporation. It trades about -0.12 of its total potential returns per unit of risk. Amphenol Corporation is currently generating about -0.01 per unit of volatility. If you would invest  9,562  in Amphenol Corporation on August 22, 2019 and sell it today you would lose (222.00)  from holding Amphenol Corporation or give up 2.32% of portfolio value over 30 days.

Pair Corralation between Corning Incorporated and Amphenol

Time Period3 Months [change]
ValuesDaily Returns

Diversification Opportunities for Corning Incorporated and Amphenol

Corning Incorporated diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Corning Incorporated and Amphenol Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Amphenol and Corning Incorporated 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 Corning Incorporated are associated (or correlated) with Amphenol. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amphenol has no effect on the direction of Corning Incorporated i.e. Corning Incorporated and Amphenol go up and down completely randomly.
See also your portfolio center. Please also try Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.