Correlation Between MagnaChip Semiconductor and Atomera
Can any of the company-specific risk be diversified away by investing in both MagnaChip Semiconductor and Atomera 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 MagnaChip Semiconductor and Atomera into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between MagnaChip Semiconductor and Atomera, you can compare the effects of market volatilities on MagnaChip Semiconductor and Atomera 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 MagnaChip Semiconductor with a short position of Atomera. Check out your portfolio center. Please also check ongoing floating volatility patterns of MagnaChip Semiconductor and Atomera.
Diversification Opportunities for MagnaChip Semiconductor and Atomera
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between MagnaChip and Atomera is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding MagnaChip Semiconductor and Atomera in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atomera and MagnaChip Semiconductor 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 MagnaChip Semiconductor are associated (or correlated) with Atomera. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atomera has no effect on the direction of MagnaChip Semiconductor i.e., MagnaChip Semiconductor and Atomera go up and down completely randomly.
Pair Corralation between MagnaChip Semiconductor and Atomera
Allowing for the 90-day total investment horizon MagnaChip Semiconductor is expected to generate 0.52 times more return on investment than Atomera. However, MagnaChip Semiconductor is 1.94 times less risky than Atomera. It trades about -0.03 of its potential returns per unit of risk. Atomera is currently generating about -0.11 per unit of risk. If you would invest 315.00 in MagnaChip Semiconductor on October 9, 2025 and sell it today you would lose (29.50) from holding MagnaChip Semiconductor or give up 9.37% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
MagnaChip Semiconductor vs. Atomera
Performance |
| Timeline |
| MagnaChip Semiconductor |
| Atomera |
MagnaChip Semiconductor and Atomera Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MagnaChip Semiconductor and Atomera
The main advantage of trading using opposite MagnaChip Semiconductor and Atomera positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MagnaChip Semiconductor position performs unexpectedly, Atomera 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 Atomera will offset losses from the drop in Atomera's long position.| MagnaChip Semiconductor vs. Amtech Systems | MagnaChip Semiconductor vs. inTest | MagnaChip Semiconductor vs. Nano Labs | MagnaChip Semiconductor vs. Atomera |
| Atomera vs. Nano Labs | Atomera vs. GCT Semiconductor Holding | Atomera vs. Amtech Systems | Atomera vs. Wisekey International Holding |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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