Correlation Between Anteris Technologies and Ainos
Can any of the company-specific risk be diversified away by investing in both Anteris Technologies and Ainos 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 Anteris Technologies and Ainos into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Anteris Technologies and Ainos Inc, you can compare the effects of market volatilities on Anteris Technologies and Ainos 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 Anteris Technologies with a short position of Ainos. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anteris Technologies and Ainos.
Diversification Opportunities for Anteris Technologies and Ainos
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between Anteris and Ainos is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Anteris Technologies and Ainos Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ainos Inc and Anteris Technologies 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 Anteris Technologies are associated (or correlated) with Ainos. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ainos Inc has no effect on the direction of Anteris Technologies i.e., Anteris Technologies and Ainos go up and down completely randomly.
Pair Corralation between Anteris Technologies and Ainos
Assuming the 90 days horizon Anteris Technologies is expected to under-perform the Ainos. But the pink sheet apears to be less risky and, when comparing its historical volatility, Anteris Technologies is 1.31 times less risky than Ainos. The pink sheet trades about -0.05 of its potential returns per unit of risk. The Ainos Inc is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 62.00 in Ainos Inc on November 2, 2024 and sell it today you would earn a total of 6.00 from holding Ainos Inc or generate 9.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 79.61% |
| Values | Daily Returns |
Anteris Technologies vs. Ainos Inc
Performance |
| Timeline |
| Anteris Technologies |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Ainos Inc |
Anteris Technologies and Ainos Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anteris Technologies and Ainos
The main advantage of trading using opposite Anteris Technologies and Ainos positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anteris Technologies position performs unexpectedly, Ainos 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 Ainos will offset losses from the drop in Ainos' long position.| Anteris Technologies vs. Ainos Inc | Anteris Technologies vs. Armm Inc | Anteris Technologies vs. Cellink AB | Anteris Technologies vs. Bone Biologics 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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