Correlation Between VELA TECHNOLPLC and Amkor Technology
Can any of the company-specific risk be diversified away by investing in both VELA TECHNOLPLC and Amkor Technology 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 VELA TECHNOLPLC and Amkor Technology into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between VELA TECHNOLPLC LS 0001 and Amkor Technology, you can compare the effects of market volatilities on VELA TECHNOLPLC and Amkor Technology 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 VELA TECHNOLPLC with a short position of Amkor Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of VELA TECHNOLPLC and Amkor Technology.
Diversification Opportunities for VELA TECHNOLPLC and Amkor Technology
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between VELA and Amkor is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding VELA TECHNOLPLC LS 0001 and Amkor Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amkor Technology and VELA TECHNOLPLC 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 VELA TECHNOLPLC LS 0001 are associated (or correlated) with Amkor Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amkor Technology has no effect on the direction of VELA TECHNOLPLC i.e., VELA TECHNOLPLC and Amkor Technology go up and down completely randomly.
Pair Corralation between VELA TECHNOLPLC and Amkor Technology
If you would invest 1,825 in Amkor Technology on July 20, 2025 and sell it today you would earn a total of 710.00 from holding Amkor Technology or generate 38.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.48% |
| Values | Daily Returns |
VELA TECHNOLPLC LS 0001 vs. Amkor Technology
Performance |
| Timeline |
| VELA TECHNOLPLC LS |
| Amkor Technology |
VELA TECHNOLPLC and Amkor Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with VELA TECHNOLPLC and Amkor Technology
The main advantage of trading using opposite VELA TECHNOLPLC and Amkor Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if VELA TECHNOLPLC position performs unexpectedly, Amkor Technology 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 Amkor Technology will offset losses from the drop in Amkor Technology's long position.| VELA TECHNOLPLC vs. CSSC Offshore Marine | VELA TECHNOLPLC vs. Mount Gibson Iron | VELA TECHNOLPLC vs. BC IRON | VELA TECHNOLPLC vs. BW OFFSHORE LTD |
| Amkor Technology vs. PARKEN Sport Entertainment | Amkor Technology vs. SPORT LISBOA E | Amkor Technology vs. Transport International Holdings | Amkor Technology vs. Sumitomo Mitsui Construction |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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