Correlation Between ASML Holding and Pgim Securitized
Can any of the company-specific risk be diversified away by investing in both ASML Holding and Pgim Securitized 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 Pgim Securitized 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 Pgim Securitized Credit, you can compare the effects of market volatilities on ASML Holding and Pgim Securitized 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 Pgim Securitized. Check out your portfolio center. Please also check ongoing floating volatility patterns of ASML Holding and Pgim Securitized.
Diversification Opportunities for ASML Holding and Pgim Securitized
-0.42 | Correlation Coefficient |
Very good diversification
The 3 months correlation between ASML and Pgim is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding ASML Holding NV and Pgim Securitized Credit in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pgim Securitized Credit 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 Pgim Securitized. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pgim Securitized Credit has no effect on the direction of ASML Holding i.e., ASML Holding and Pgim Securitized go up and down completely randomly.
Pair Corralation between ASML Holding and Pgim Securitized
Given the investment horizon of 90 days ASML Holding NV is expected to generate 18.28 times more return on investment than Pgim Securitized. However, ASML Holding is 18.28 times more volatile than Pgim Securitized Credit. It trades about 0.03 of its potential returns per unit of risk. Pgim Securitized Credit is currently generating about 0.27 per unit of risk. If you would invest 74,517 in ASML Holding NV on May 29, 2025 and sell it today you would earn a total of 1,803 from holding ASML Holding NV or generate 2.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
ASML Holding NV vs. Pgim Securitized Credit
Performance |
| Timeline |
| ASML Holding NV |
| Pgim Securitized Credit |
ASML Holding and Pgim Securitized Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ASML Holding and Pgim Securitized
The main advantage of trading using opposite ASML Holding and Pgim Securitized positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ASML Holding position performs unexpectedly, Pgim Securitized 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 Pgim Securitized will offset losses from the drop in Pgim Securitized's long position.| ASML Holding vs. Applied Materials | ASML Holding vs. KLA Tencor | ASML Holding vs. Axcelis Technologies | ASML Holding vs. Teradyne |
| Pgim Securitized vs. Gmo E Plus | Pgim Securitized vs. Pioneer High Yield | Pgim Securitized vs. Rbc Funds Trust | Pgim Securitized vs. Old Westbury Fixed |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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