Correlation Between Vishay Intertechnology and ScanTech
Can any of the company-specific risk be diversified away by investing in both Vishay Intertechnology and ScanTech 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 Vishay Intertechnology and ScanTech into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Vishay Intertechnology and ScanTech AI Systems, you can compare the effects of market volatilities on Vishay Intertechnology and ScanTech 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 Vishay Intertechnology with a short position of ScanTech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vishay Intertechnology and ScanTech.
Diversification Opportunities for Vishay Intertechnology and ScanTech
-0.56 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Vishay and ScanTech is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding Vishay Intertechnology and ScanTech AI Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ScanTech AI Systems and Vishay Intertechnology 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 Vishay Intertechnology are associated (or correlated) with ScanTech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ScanTech AI Systems has no effect on the direction of Vishay Intertechnology i.e., Vishay Intertechnology and ScanTech go up and down completely randomly.
Pair Corralation between Vishay Intertechnology and ScanTech
Considering the 90-day investment horizon Vishay Intertechnology is expected to generate 0.59 times more return on investment than ScanTech. However, Vishay Intertechnology is 1.7 times less risky than ScanTech. It trades about 0.16 of its potential returns per unit of risk. ScanTech AI Systems is currently generating about -0.27 per unit of risk. If you would invest 1,282 in Vishay Intertechnology on April 25, 2025 and sell it today you would earn a total of 411.00 from holding Vishay Intertechnology or generate 32.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Vishay Intertechnology vs. ScanTech AI Systems
Performance |
| Timeline |
| Vishay Intertechnology |
| ScanTech AI Systems |
Vishay Intertechnology and ScanTech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vishay Intertechnology and ScanTech
The main advantage of trading using opposite Vishay Intertechnology and ScanTech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vishay Intertechnology position performs unexpectedly, ScanTech 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 ScanTech will offset losses from the drop in ScanTech's long position.| Vishay Intertechnology vs. Silicon Laboratories | Vishay Intertechnology vs. Diodes Incorporated | Vishay Intertechnology vs. MACOM Technology Solutions | Vishay Intertechnology vs. FormFactor |
| ScanTech vs. NRG Energy | ScanTech vs. Enel Chile SA | ScanTech vs. Communications Synergy Technologies | ScanTech vs. WEC Energy Group |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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