Correlation Between Impinj and QuickLogic
Can any of the company-specific risk be diversified away by investing in both Impinj and QuickLogic 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 Impinj and QuickLogic into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Impinj Inc and QuickLogic, you can compare the effects of market volatilities on Impinj and QuickLogic 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 Impinj with a short position of QuickLogic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Impinj and QuickLogic.
Diversification Opportunities for Impinj and QuickLogic
0.02 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Impinj and QuickLogic is 0.02. Overlapping area represents the amount of risk that can be diversified away by holding Impinj Inc and QuickLogic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on QuickLogic and Impinj 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 Impinj Inc are associated (or correlated) with QuickLogic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of QuickLogic has no effect on the direction of Impinj i.e., Impinj and QuickLogic go up and down completely randomly.
Pair Corralation between Impinj and QuickLogic
Allowing for the 90-day total investment horizon Impinj Inc is expected to generate 0.97 times more return on investment than QuickLogic. However, Impinj Inc is 1.03 times less risky than QuickLogic. It trades about 0.16 of its potential returns per unit of risk. QuickLogic is currently generating about 0.05 per unit of risk. If you would invest 11,521 in Impinj Inc on May 22, 2025 and sell it today you would earn a total of 5,134 from holding Impinj Inc or generate 44.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Impinj Inc vs. QuickLogic
Performance |
| Timeline |
| Impinj Inc |
| QuickLogic |
Impinj and QuickLogic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Impinj and QuickLogic
The main advantage of trading using opposite Impinj and QuickLogic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Impinj position performs unexpectedly, QuickLogic 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 QuickLogic will offset losses from the drop in QuickLogic's long position.| Impinj vs. Credo Technology Group | Impinj vs. Zebra Technologies | Impinj vs. Ubiquiti Networks | Impinj vs. Ciena Corp |
| QuickLogic vs. Skywater Technology | QuickLogic vs. Pixelworks | QuickLogic vs. Weebit Nano Limited | QuickLogic vs. MagnaChip Semiconductor |
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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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