Correlation Between Harvest Broadcom and Amalgamated Bank
Can any of the company-specific risk be diversified away by investing in both Harvest Broadcom and Amalgamated Bank 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 Harvest Broadcom and Amalgamated Bank into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Harvest Broadcom Enhanced and Amalgamated Bank, you can compare the effects of market volatilities on Harvest Broadcom and Amalgamated Bank 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 Harvest Broadcom with a short position of Amalgamated Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Broadcom and Amalgamated Bank.
Diversification Opportunities for Harvest Broadcom and Amalgamated Bank
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Harvest and Amalgamated is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Broadcom Enhanced and Amalgamated Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amalgamated Bank and Harvest Broadcom 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 Harvest Broadcom Enhanced are associated (or correlated) with Amalgamated Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amalgamated Bank has no effect on the direction of Harvest Broadcom i.e., Harvest Broadcom and Amalgamated Bank go up and down completely randomly.
Pair Corralation between Harvest Broadcom and Amalgamated Bank
Assuming the 90 days trading horizon Harvest Broadcom Enhanced is expected to generate 1.59 times more return on investment than Amalgamated Bank. However, Harvest Broadcom is 1.59 times more volatile than Amalgamated Bank. It trades about 0.15 of its potential returns per unit of risk. Amalgamated Bank is currently generating about -0.05 per unit of risk. If you would invest 1,637 in Harvest Broadcom Enhanced on August 22, 2025 and sell it today you would earn a total of 473.00 from holding Harvest Broadcom Enhanced or generate 28.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Harvest Broadcom Enhanced vs. Amalgamated Bank
Performance |
| Timeline |
| Harvest Broadcom Enhanced |
| Amalgamated Bank |
Harvest Broadcom and Amalgamated Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harvest Broadcom and Amalgamated Bank
The main advantage of trading using opposite Harvest Broadcom and Amalgamated Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Broadcom position performs unexpectedly, Amalgamated Bank 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 Amalgamated Bank will offset losses from the drop in Amalgamated Bank's long position.| Harvest Broadcom vs. Harvest Premium Yield | Harvest Broadcom vs. Harvest Balanced Income | Harvest Broadcom vs. Harvest Low Volatility | Harvest Broadcom vs. Harvest Coinbase Enhanced |
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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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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