Correlation Between Acumen Pharmaceuticals and GLENLN
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By analyzing existing cross correlation between Acumen Pharmaceuticals and GLENLN 4 27 MAR 27, you can compare the effects of market volatilities on Acumen Pharmaceuticals and GLENLN 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 Acumen Pharmaceuticals with a short position of GLENLN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Acumen Pharmaceuticals and GLENLN.
Diversification Opportunities for Acumen Pharmaceuticals and GLENLN
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Acumen and GLENLN is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Acumen Pharmaceuticals and GLENLN 4 27 MAR 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GLENLN 4 27 and Acumen Pharmaceuticals 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 Acumen Pharmaceuticals are associated (or correlated) with GLENLN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GLENLN 4 27 has no effect on the direction of Acumen Pharmaceuticals i.e., Acumen Pharmaceuticals and GLENLN go up and down completely randomly.
Pair Corralation between Acumen Pharmaceuticals and GLENLN
Given the investment horizon of 90 days Acumen Pharmaceuticals is expected to under-perform the GLENLN. In addition to that, Acumen Pharmaceuticals is 31.18 times more volatile than GLENLN 4 27 MAR 27. It trades about -0.02 of its total potential returns per unit of risk. GLENLN 4 27 MAR 27 is currently generating about -0.08 per unit of volatility. If you would invest 9,893 in GLENLN 4 27 MAR 27 on September 12, 2024 and sell it today you would lose (62.00) from holding GLENLN 4 27 MAR 27 or give up 0.63% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 87.5% |
| Values | Daily Returns |
Acumen Pharmaceuticals vs. GLENLN 4 27 MAR 27
Performance |
| Timeline |
| Acumen Pharmaceuticals |
| GLENLN 4 27 |
Acumen Pharmaceuticals and GLENLN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Acumen Pharmaceuticals and GLENLN
The main advantage of trading using opposite Acumen Pharmaceuticals and GLENLN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Acumen Pharmaceuticals position performs unexpectedly, GLENLN 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 GLENLN will offset losses from the drop in GLENLN's long position.| Acumen Pharmaceuticals vs. Puma Biotechnology | Acumen Pharmaceuticals vs. Iovance Biotherapeutics | Acumen Pharmaceuticals vs. Sarepta Therapeutics | Acumen Pharmaceuticals vs. Day One Biopharmaceuticals |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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