Correlation Between MagnaChip Semiconductor and KSM Mutual
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By analyzing existing cross correlation between MagnaChip Semiconductor and KSM Mutual Funds, you can compare the effects of market volatilities on MagnaChip Semiconductor and KSM Mutual 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 MagnaChip Semiconductor with a short position of KSM Mutual. Check out your portfolio center. Please also check ongoing floating volatility patterns of MagnaChip Semiconductor and KSM Mutual.
Diversification Opportunities for MagnaChip Semiconductor and KSM Mutual
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between MagnaChip and KSM is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding MagnaChip Semiconductor and KSM Mutual Funds in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KSM Mutual Funds and MagnaChip Semiconductor 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 MagnaChip Semiconductor are associated (or correlated) with KSM Mutual. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KSM Mutual Funds has no effect on the direction of MagnaChip Semiconductor i.e., MagnaChip Semiconductor and KSM Mutual go up and down completely randomly.
Pair Corralation between MagnaChip Semiconductor and KSM Mutual
Allowing for the 90-day total investment horizon MagnaChip Semiconductor is expected to generate 0.45 times more return on investment than KSM Mutual. However, MagnaChip Semiconductor is 2.21 times less risky than KSM Mutual. It trades about -0.28 of its potential returns per unit of risk. KSM Mutual Funds is currently generating about -0.17 per unit of risk. If you would invest 536.00 in MagnaChip Semiconductor on January 25, 2024 and sell it today you would lose (53.00) from holding MagnaChip Semiconductor or give up 9.89% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 77.27% |
| Values | Daily Returns |
MagnaChip Semiconductor vs. KSM Mutual Funds
Performance |
| Timeline |
| MagnaChip Semiconductor |
| KSM Mutual Funds |
MagnaChip Semiconductor and KSM Mutual Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MagnaChip Semiconductor and KSM Mutual
The main advantage of trading using opposite MagnaChip Semiconductor and KSM Mutual positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MagnaChip Semiconductor position performs unexpectedly, KSM Mutual 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 KSM Mutual will offset losses from the drop in KSM Mutual's long position.| MagnaChip Semiconductor vs. CEVA Inc | MagnaChip Semiconductor vs. MACOM Technology Solutions | MagnaChip Semiconductor vs. FormFactor | MagnaChip Semiconductor vs. MaxLinear |
| KSM Mutual vs. KSM Mutual Funds | KSM Mutual vs. KSM Mutual Funds | KSM Mutual vs. KSM Mutual Funds | KSM Mutual vs. KSM Mutual Funds |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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