Correlation Between Crowdstrike Holdings and KLA Tencor
Can any of the company-specific risk be diversified away by investing in both Crowdstrike Holdings and KLA Tencor 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 Crowdstrike Holdings and KLA Tencor into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Crowdstrike Holdings and KLA Tencor, you can compare the effects of market volatilities on Crowdstrike Holdings and KLA Tencor 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 Crowdstrike Holdings with a short position of KLA Tencor. Check out your portfolio center. Please also check ongoing floating volatility patterns of Crowdstrike Holdings and KLA Tencor.
Diversification Opportunities for Crowdstrike Holdings and KLA Tencor
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Crowdstrike and KLA is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Crowdstrike Holdings and KLA Tencor in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KLA Tencor and Crowdstrike Holdings 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 Crowdstrike Holdings are associated (or correlated) with KLA Tencor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KLA Tencor has no effect on the direction of Crowdstrike Holdings i.e., Crowdstrike Holdings and KLA Tencor go up and down completely randomly.
Pair Corralation between Crowdstrike Holdings and KLA Tencor
Given the investment horizon of 90 days Crowdstrike Holdings is expected to generate 1.63 times less return on investment than KLA Tencor. But when comparing it to its historical volatility, Crowdstrike Holdings is 1.01 times less risky than KLA Tencor. It trades about 0.12 of its potential returns per unit of risk. KLA Tencor is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 87,054 in KLA Tencor on August 29, 2025 and sell it today you would earn a total of 28,853 from holding KLA Tencor or generate 33.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Crowdstrike Holdings vs. KLA Tencor
Performance |
| Timeline |
| Crowdstrike Holdings |
| KLA Tencor |
Crowdstrike Holdings and KLA Tencor Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Crowdstrike Holdings and KLA Tencor
The main advantage of trading using opposite Crowdstrike Holdings and KLA Tencor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Crowdstrike Holdings position performs unexpectedly, KLA Tencor 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 KLA Tencor will offset losses from the drop in KLA Tencor's long position.| Crowdstrike Holdings vs. Quaker Chemical | Crowdstrike Holdings vs. US GoldMining Common | Crowdstrike Holdings vs. X FAB Silicon Foundries | Crowdstrike Holdings vs. ICL Israel Chemicals |
| KLA Tencor vs. Consolidated Sports Media | KLA Tencor vs. SIGNA Sports United | KLA Tencor vs. WT Offshore | KLA Tencor vs. Internet Gold Golden |
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 CEOs Directory module to screen CEOs from public companies around the world.
Other Complementary Tools
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios |