Correlation Between SIVERS SEMICONDUCTORS and BANK HANDLOWY
Can any of the company-specific risk be diversified away by investing in both SIVERS SEMICONDUCTORS and BANK HANDLOWY 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 SIVERS SEMICONDUCTORS and BANK HANDLOWY into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SIVERS SEMICONDUCTORS AB and BANK HANDLOWY, you can compare the effects of market volatilities on SIVERS SEMICONDUCTORS and BANK HANDLOWY 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 SIVERS SEMICONDUCTORS with a short position of BANK HANDLOWY. Check out your portfolio center. Please also check ongoing floating volatility patterns of SIVERS SEMICONDUCTORS and BANK HANDLOWY.
Diversification Opportunities for SIVERS SEMICONDUCTORS and BANK HANDLOWY
-0.17 | Correlation Coefficient |
Good diversification
The 3 months correlation between SIVERS and BANK is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding SIVERS SEMICONDUCTORS AB and BANK HANDLOWY in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BANK HANDLOWY and SIVERS SEMICONDUCTORS 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 SIVERS SEMICONDUCTORS AB are associated (or correlated) with BANK HANDLOWY. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BANK HANDLOWY has no effect on the direction of SIVERS SEMICONDUCTORS i.e., SIVERS SEMICONDUCTORS and BANK HANDLOWY go up and down completely randomly.
Pair Corralation between SIVERS SEMICONDUCTORS and BANK HANDLOWY
Assuming the 90 days horizon SIVERS SEMICONDUCTORS AB is expected to generate 4.72 times more return on investment than BANK HANDLOWY. However, SIVERS SEMICONDUCTORS is 4.72 times more volatile than BANK HANDLOWY. It trades about 0.03 of its potential returns per unit of risk. BANK HANDLOWY is currently generating about -0.03 per unit of risk. If you would invest 28.00 in SIVERS SEMICONDUCTORS AB on August 18, 2025 and sell it today you would earn a total of 1.00 from holding SIVERS SEMICONDUCTORS AB or generate 3.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SIVERS SEMICONDUCTORS AB vs. BANK HANDLOWY
Performance |
| Timeline |
| SIVERS SEMICONDUCTORS |
| BANK HANDLOWY |
SIVERS SEMICONDUCTORS and BANK HANDLOWY Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SIVERS SEMICONDUCTORS and BANK HANDLOWY
The main advantage of trading using opposite SIVERS SEMICONDUCTORS and BANK HANDLOWY positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SIVERS SEMICONDUCTORS position performs unexpectedly, BANK HANDLOWY 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 BANK HANDLOWY will offset losses from the drop in BANK HANDLOWY's long position.| SIVERS SEMICONDUCTORS vs. NVIDIA | SIVERS SEMICONDUCTORS vs. Taiwan Semiconductor Manufacturing | SIVERS SEMICONDUCTORS vs. Intel | SIVERS SEMICONDUCTORS vs. BANK HANDLOWY |
| BANK HANDLOWY vs. SLR Investment Corp | BANK HANDLOWY vs. Strategic Investments AS | BANK HANDLOWY vs. Soken Chemical Engineering | BANK HANDLOWY vs. PennyMac Mortgage Investment |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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