Correlation Between Advanced Micro and ASIAN GRANITO

By analyzing existing cross correlation between Advanced Micro Devices and ASIAN GRANITO INDI, you can compare the effects of market volatilities on Advanced Micro and ASIAN GRANITO 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 Advanced Micro with a short position of ASIAN GRANITO. Check out your portfolio center. Please also check ongoing floating volatility patterns of Advanced Micro and ASIAN GRANITO.

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

Diversification Opportunities for Advanced Micro and ASIAN GRANITO

0.0
  Correlation Coefficient
Advanced Micro Devices
ASIAN GRANITO INDI

Pay attention - limited upside

The 3 months correlation between Advanced and ASIAN is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Advanced Micro Devices Inc and ASIAN GRANITO INDI in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ASIAN GRANITO INDI and Advanced Micro 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 Advanced Micro Devices are associated (or correlated) with ASIAN GRANITO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ASIAN GRANITO INDI has no effect on the direction of Advanced Micro i.e. Advanced Micro and ASIAN GRANITO go up and down completely randomly.

Pair Corralation between Advanced Micro and ASIAN GRANITO

If you would invest  5,094  in Advanced Micro Devices on June 11, 2020 and sell it today you would earn a total of  494.00  from holding Advanced Micro Devices or generate 9.7% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Advanced Micro Devices Inc  vs.  ASIAN GRANITO INDI

 Performance (%) 
      Timeline 
Advanced Micro Devices 
44

Advanced Micro Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Advanced Micro Devices are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. In spite of rather sluggish fundamental drivers, Advanced Micro may actually be approaching a critical reversion point that can send shares even higher in August 2020.
ASIAN GRANITO INDI 
00

ASIAN GRANITO Risk-Adjusted Performance

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

Advanced Micro and ASIAN GRANITO Volatility Contrast

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