Correlation Between Amplitech and Next Technology
Can any of the company-specific risk be diversified away by investing in both Amplitech and Next Technology 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 Amplitech and Next Technology into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amplitech Group and Next Technology Holding, you can compare the effects of market volatilities on Amplitech and Next Technology 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 Amplitech with a short position of Next Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amplitech and Next Technology.
Diversification Opportunities for Amplitech and Next Technology
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Amplitech and Next is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding Amplitech Group and Next Technology Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Next Technology Holding and Amplitech 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 Amplitech Group are associated (or correlated) with Next Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Next Technology Holding has no effect on the direction of Amplitech i.e., Amplitech and Next Technology go up and down completely randomly.
Pair Corralation between Amplitech and Next Technology
Given the investment horizon of 90 days Amplitech Group is expected to generate 0.33 times more return on investment than Next Technology. However, Amplitech Group is 3.06 times less risky than Next Technology. It trades about -0.04 of its potential returns per unit of risk. Next Technology Holding is currently generating about -0.1 per unit of risk. If you would invest 355.00 in Amplitech Group on August 14, 2025 and sell it today you would lose (95.00) from holding Amplitech Group or give up 26.76% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Amplitech Group vs. Next Technology Holding
Performance |
| Timeline |
| Amplitech Group |
| Next Technology Holding |
Amplitech and Next Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amplitech and Next Technology
The main advantage of trading using opposite Amplitech and Next Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amplitech position performs unexpectedly, Next Technology 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 Next Technology will offset losses from the drop in Next Technology's long position.| Amplitech vs. Cambium Networks Corp | Amplitech vs. Optical Cable | Amplitech vs. AstroNova | Amplitech vs. Mobilicom Limited American |
| Next Technology vs. Nukkleus | Next Technology vs. Aware Inc | Next Technology vs. mF International Limited | Next Technology vs. Marketwise |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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