Correlation Between Hana Microelectronics and Twin Vee
Can any of the company-specific risk be diversified away by investing in both Hana Microelectronics and Twin Vee 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 Hana Microelectronics and Twin Vee into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Hana Microelectronics Public and Twin Vee Powercats, you can compare the effects of market volatilities on Hana Microelectronics and Twin Vee 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 Hana Microelectronics with a short position of Twin Vee. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hana Microelectronics and Twin Vee.
Diversification Opportunities for Hana Microelectronics and Twin Vee
0.04 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Hana and Twin is 0.04. Overlapping area represents the amount of risk that can be diversified away by holding Hana Microelectronics Public and Twin Vee Powercats in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Twin Vee Powercats and Hana Microelectronics 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 Hana Microelectronics Public are associated (or correlated) with Twin Vee. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Twin Vee Powercats has no effect on the direction of Hana Microelectronics i.e., Hana Microelectronics and Twin Vee go up and down completely randomly.
Pair Corralation between Hana Microelectronics and Twin Vee
Assuming the 90 days horizon Hana Microelectronics is expected to generate 7.82 times less return on investment than Twin Vee. But when comparing it to its historical volatility, Hana Microelectronics Public is 38.26 times less risky than Twin Vee. It trades about 0.13 of its potential returns per unit of risk. Twin Vee Powercats is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 249.00 in Twin Vee Powercats on September 6, 2025 and sell it today you would lose (13.00) from holding Twin Vee Powercats or give up 5.22% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hana Microelectronics Public vs. Twin Vee Powercats
Performance |
| Timeline |
| Hana Microelectronics |
| Twin Vee Powercats |
Hana Microelectronics and Twin Vee Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hana Microelectronics and Twin Vee
The main advantage of trading using opposite Hana Microelectronics and Twin Vee positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hana Microelectronics position performs unexpectedly, Twin Vee 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 Twin Vee will offset losses from the drop in Twin Vee's long position.| Hana Microelectronics vs. NVIDIA | Hana Microelectronics vs. Apple Inc | Hana Microelectronics vs. Alphabet Inc Class C | Hana Microelectronics vs. Microsoft |
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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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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