Correlation Between Accesso Technology and Littelfuse
Can any of the company-specific risk be diversified away by investing in both Accesso Technology and Littelfuse 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 Accesso Technology and Littelfuse into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Accesso Technology Group and Littelfuse, you can compare the effects of market volatilities on Accesso Technology and Littelfuse 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 Accesso Technology with a short position of Littelfuse. Check out your portfolio center. Please also check ongoing floating volatility patterns of Accesso Technology and Littelfuse.
Diversification Opportunities for Accesso Technology and Littelfuse
0.64 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Accesso and Littelfuse is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding Accesso Technology Group and Littelfuse in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Littelfuse and Accesso Technology 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 Accesso Technology Group are associated (or correlated) with Littelfuse. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Littelfuse has no effect on the direction of Accesso Technology i.e., Accesso Technology and Littelfuse go up and down completely randomly.
Pair Corralation between Accesso Technology and Littelfuse
Assuming the 90 days trading horizon Accesso Technology Group is expected to under-perform the Littelfuse. But the stock apears to be less risky and, when comparing its historical volatility, Accesso Technology Group is 1.21 times less risky than Littelfuse. The stock trades about -0.21 of its potential returns per unit of risk. The Littelfuse is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 25,469 in Littelfuse on September 2, 2025 and sell it today you would lose (113.00) from holding Littelfuse or give up 0.44% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Accesso Technology Group vs. Littelfuse
Performance |
| Timeline |
| Accesso Technology |
| Littelfuse |
Accesso Technology and Littelfuse Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Accesso Technology and Littelfuse
The main advantage of trading using opposite Accesso Technology and Littelfuse positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Accesso Technology position performs unexpectedly, Littelfuse 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 Littelfuse will offset losses from the drop in Littelfuse's long position.| Accesso Technology vs. Cairo Communication SpA | Accesso Technology vs. SBM Offshore NV | Accesso Technology vs. Ondine Biomedical | Accesso Technology vs. Fonix Mobile plc |
| Littelfuse vs. TFS Financial | Littelfuse vs. Aldel Financial II | Littelfuse vs. US GoldMining Common | Littelfuse vs. Hunter Creek Mining |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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