Correlation Between Advanced Micro and Pnc International

Can any of the company-specific risk be diversified away by investing in both Advanced Micro and Pnc International 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 Advanced Micro and Pnc International into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Advanced Micro Devices and Pnc International Equity, you can compare the effects of market volatilities on Advanced Micro and Pnc International 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 Advanced Micro with a short position of Pnc International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Advanced Micro and Pnc International.

Diversification Opportunities for Advanced Micro and Pnc International

0.0

Correlation Coefficient

Advanced Micro  Pnc International

Pay attention - limited upside

The 3 months correlation between Advanced and PNC is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Advanced Micro Devices and Pnc International Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pnc International Equity and Advanced Micro 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 Advanced Micro Devices are associated (or correlated) with Pnc International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pnc International Equity has no effect on the direction of Advanced Micro i.e., Advanced Micro and Pnc International go up and down completely randomly.

Pair Corralation between Advanced Micro and Pnc International

If you would invest (100.00) in Pnc International Equity on August 26, 2025 and sell it today you would earn a total of  100.00  from holding Pnc International Equity or generate -100.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Advanced Micro Devices  vs.  Pnc International Equity

Advanced Micro Devices

Risk-Adjusted Performance

Fair

Over the last 90 days Advanced Micro Devices has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy fundamental indicators, Advanced Micro is not utilizing all of its potentials. The current stock price disarray, may contribute to short-term losses for the investors.

Pnc International Equity

Risk-Adjusted Performance

Weakest

Over the last 90 days Pnc International Equity has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong fundamental indicators, Pnc International is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with Advanced Micro and Pnc International

The main advantage of trading using opposite Advanced Micro and Pnc International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Advanced Micro position performs unexpectedly, Pnc International 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 Pnc International will offset losses from the drop in Pnc International's long position.

The idea behind Advanced Micro Devices and Pnc International Equity pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.