Correlation Between Camtek and Entegris
Can any of the company-specific risk be diversified away by investing in both Camtek and Entegris 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 Camtek and Entegris into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Camtek and Entegris, you can compare the effects of market volatilities on Camtek and Entegris 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 Camtek with a short position of Entegris. Check out your portfolio center. Please also check ongoing floating volatility patterns of Camtek and Entegris.
Diversification Opportunities for Camtek and Entegris
Poor diversification
The 3 months correlation between Camtek and Entegris is 0.71. Overlapping area represents the amount of risk that can be diversified away by holding Camtek and Entegris in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Entegris and Camtek 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 Camtek are associated (or correlated) with Entegris. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Entegris has no effect on the direction of Camtek i.e., Camtek and Entegris go up and down completely randomly.
Pair Corralation between Camtek and Entegris
Given the investment horizon of 90 days Camtek is expected to generate 0.89 times more return on investment than Entegris. However, Camtek is 1.12 times less risky than Entegris. It trades about 0.16 of its potential returns per unit of risk. Entegris is currently generating about 0.11 per unit of risk. If you would invest 6,654 in Camtek on May 30, 2025 and sell it today you would earn a total of 2,036 from holding Camtek or generate 30.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Camtek vs. Entegris
Performance |
| Timeline |
| Camtek |
| Entegris |
Camtek and Entegris Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Camtek and Entegris
The main advantage of trading using opposite Camtek and Entegris positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Camtek position performs unexpectedly, Entegris 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 Entegris will offset losses from the drop in Entegris' long position.| Camtek vs. Onto Innovation | Camtek vs. Amtech Systems | Camtek vs. Veeco Instruments | Camtek vs. Ichor Holdings |
| Entegris vs. SolarEdge Technologies | Entegris vs. First Solar | Entegris vs. Sunrun Inc | Entegris vs. Canadian Solar |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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