Correlation Between Intchains Group and ASML Holding
Can any of the company-specific risk be diversified away by investing in both Intchains Group and ASML Holding 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 Intchains Group and ASML Holding into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Intchains Group Limited and ASML Holding NV, you can compare the effects of market volatilities on Intchains Group and ASML Holding 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 Intchains Group with a short position of ASML Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intchains Group and ASML Holding.
Diversification Opportunities for Intchains Group and ASML Holding
-0.51 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Intchains and ASML is -0.51. Overlapping area represents the amount of risk that can be diversified away by holding Intchains Group Limited and ASML Holding NV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ASML Holding NV and Intchains Group 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 Intchains Group Limited are associated (or correlated) with ASML Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ASML Holding NV has no effect on the direction of Intchains Group i.e., Intchains Group and ASML Holding go up and down completely randomly.
Pair Corralation between Intchains Group and ASML Holding
Considering the 90-day investment horizon Intchains Group Limited is expected to under-perform the ASML Holding. In addition to that, Intchains Group is 3.36 times more volatile than ASML Holding NV. It trades about -0.29 of its total potential returns per unit of risk. ASML Holding NV is currently generating about 0.11 per unit of volatility. If you would invest 69,936 in ASML Holding NV on June 5, 2025 and sell it today you would earn a total of 2,649 from holding ASML Holding NV or generate 3.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Intchains Group Limited vs. ASML Holding NV
Performance |
| Timeline |
| Intchains Group |
| ASML Holding NV |
Intchains Group and ASML Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intchains Group and ASML Holding
The main advantage of trading using opposite Intchains Group and ASML Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intchains Group position performs unexpectedly, ASML Holding 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 ASML Holding will offset losses from the drop in ASML Holding's long position.| Intchains Group vs. Glacier Bancorp | Intchains Group vs. Freedom Bank of | Intchains Group vs. KeyCorp | Intchains Group vs. Teleflex Incorporated |
| ASML Holding vs. Applied Materials | ASML Holding vs. KLA Tencor | ASML Holding vs. Axcelis Technologies | ASML Holding vs. Teradyne |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
Other Complementary Tools
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like |