Correlation Between ASML Holding and Pro-blend(r) Conservative
Can any of the company-specific risk be diversified away by investing in both ASML Holding and Pro-blend(r) Conservative 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 ASML Holding and Pro-blend(r) Conservative into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ASML Holding NV and Pro Blend Servative Term, you can compare the effects of market volatilities on ASML Holding and Pro-blend(r) Conservative 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 ASML Holding with a short position of Pro-blend(r) Conservative. Check out your portfolio center. Please also check ongoing floating volatility patterns of ASML Holding and Pro-blend(r) Conservative.
Diversification Opportunities for ASML Holding and Pro-blend(r) Conservative
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between ASML and Pro-blend(r) is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding ASML Holding NV and Pro Blend Servative Term in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pro-blend(r) Conservative and ASML Holding 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 ASML Holding NV are associated (or correlated) with Pro-blend(r) Conservative. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pro-blend(r) Conservative has no effect on the direction of ASML Holding i.e., ASML Holding and Pro-blend(r) Conservative go up and down completely randomly.
Pair Corralation between ASML Holding and Pro-blend(r) Conservative
Given the investment horizon of 90 days ASML Holding NV is expected to generate 8.55 times more return on investment than Pro-blend(r) Conservative. However, ASML Holding is 8.55 times more volatile than Pro Blend Servative Term. It trades about 0.03 of its potential returns per unit of risk. Pro Blend Servative Term is currently generating about 0.18 per unit of risk. If you would invest 78,422 in ASML Holding NV on June 12, 2025 and sell it today you would earn a total of 2,091 from holding ASML Holding NV or generate 2.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
ASML Holding NV vs. Pro Blend Servative Term
Performance |
| Timeline |
| ASML Holding NV |
| Pro-blend(r) Conservative |
ASML Holding and Pro-blend(r) Conservative Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ASML Holding and Pro-blend(r) Conservative
The main advantage of trading using opposite ASML Holding and Pro-blend(r) Conservative positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ASML Holding position performs unexpectedly, Pro-blend(r) Conservative 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 Pro-blend(r) Conservative will offset losses from the drop in Pro-blend(r) Conservative's long position.| ASML Holding vs. Applied Materials | ASML Holding vs. KLA Tencor | ASML Holding vs. Axcelis Technologies | ASML Holding vs. Teradyne |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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