The two overseas lines of SK Hynix, normalized to one Korean common share in USD, then charted over time. SKHY is the Nasdaq ADR (10 ADS = 1 share); HY9H is the Frankfurt / Luxembourg GDR (1 GDR = 1 share).
Both converted to what one Korean common share is worth, in USD.
SKHY-vs-HY9H premium at hourly frequency, anchored on SKHY's bars.
Each ADS is one-tenth of a Korean common share (10 ADS = 1 share); each GDR is one full share (1 GDR = 1 share). To compare, both are expressed as the USD value of one Korean share.
Positive = the ADR is more expensive than the GDR (FX-adjusted); negative = cheaper. The hourly chart anchors on SKHY's trading bars and forward-fills the most recent HY9H and EUR/USD values onto each bar, so points during the US session after Frankfurt closes carry HY9H's last European print. GDR ratio assumed 1:1 — tell me if your line differs.
Different clocks. Nasdaq (09:30–16:00 ET) and Frankfurt (09:00–17:30 CET) overlap only a few hours a day, and HY9H is thin. A premium can partly reflect the time gap and a stale European print rather than a true dislocation.
Two currencies. The comparison rides on EUR/USD; an FX move alone can shift the premium.
New listing. SKHY is recently listed, so the hourly history is short and fills in as sessions accumulate. Data is free/delayed and refreshes every 10 seconds while this tab is open — informational only, not tradable.