Correlation Between Aditxt and Apexigen
Can any of the company-specific risk be diversified away by investing in both Aditxt and Apexigen 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 Aditxt and Apexigen into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aditxt Inc and Apexigen, you can compare the effects of market volatilities on Aditxt and Apexigen 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 Aditxt with a short position of Apexigen. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aditxt and Apexigen.
Diversification Opportunities for Aditxt and Apexigen
Average diversification
The 3 months correlation between Aditxt and Apexigen is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Aditxt Inc and Apexigen in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Apexigen and Aditxt 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 Aditxt Inc are associated (or correlated) with Apexigen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Apexigen has no effect on the direction of Aditxt i.e., Aditxt and Apexigen go up and down completely randomly.
Pair Corralation between Aditxt and Apexigen
If you would invest 43.00 in Apexigen on October 25, 2024 and sell it today you would earn a total of 0.00 from holding Apexigen or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 1.67% |
| Values | Daily Returns |
Aditxt Inc vs. Apexigen
Performance |
| Timeline |
| Aditxt Inc |
| Apexigen |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Aditxt and Apexigen Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aditxt and Apexigen
The main advantage of trading using opposite Aditxt and Apexigen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aditxt position performs unexpectedly, Apexigen 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 Apexigen will offset losses from the drop in Apexigen's long position.| Aditxt vs. Dermata Therapeutics | Aditxt vs. Unicycive Therapeutics | Aditxt vs. Revelation Biosciences | Aditxt vs. Palisade Bio |
| Apexigen vs. Leap Therapeutics | Apexigen vs. Zura Bio Limited | Apexigen vs. X4 Pharmaceuticals | Apexigen vs. Phio Pharmaceuticals Corp |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
Other Complementary Tools
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital |