Correlation Between Annexin Pharmaceuticals and IZafe Group
Specify exactly 2 symbols:
By analyzing existing cross correlation between Annexin Pharmaceuticals AB and iZafe Group AB, you can compare the effects of market volatilities on Annexin Pharmaceuticals and IZafe Group 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 Annexin Pharmaceuticals with a short position of IZafe Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Annexin Pharmaceuticals and IZafe Group.
Diversification Opportunities for Annexin Pharmaceuticals and IZafe Group
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between Annexin and IZafe is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Annexin Pharmaceuticals AB and iZafe Group AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on iZafe Group AB and Annexin 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 Annexin Pharmaceuticals AB are associated (or correlated) with IZafe Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of iZafe Group AB has no effect on the direction of Annexin Pharmaceuticals i.e., Annexin Pharmaceuticals and IZafe Group go up and down completely randomly.
Pair Corralation between Annexin Pharmaceuticals and IZafe Group
Assuming the 90 days trading horizon Annexin Pharmaceuticals AB is expected to generate 0.74 times more return on investment than IZafe Group. However, Annexin Pharmaceuticals AB is 1.36 times less risky than IZafe Group. It trades about 0.34 of its potential returns per unit of risk. iZafe Group AB is currently generating about 0.14 per unit of risk. If you would invest 41.00 in Annexin Pharmaceuticals AB on October 25, 2024 and sell it today you would earn a total of 8.00 from holding Annexin Pharmaceuticals AB or generate 19.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Annexin Pharmaceuticals AB vs. iZafe Group AB
Performance |
| Timeline |
| Annexin Pharmaceuticals |
| iZafe Group AB |
Annexin Pharmaceuticals and IZafe Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Annexin Pharmaceuticals and IZafe Group
The main advantage of trading using opposite Annexin Pharmaceuticals and IZafe Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Annexin Pharmaceuticals position performs unexpectedly, IZafe Group 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 IZafe Group will offset losses from the drop in IZafe Group's long position.| Annexin Pharmaceuticals vs. Cantargia AB | Annexin Pharmaceuticals vs. Biovica International AB | Annexin Pharmaceuticals vs. Ascelia Pharma AB | Annexin Pharmaceuticals vs. BioArctic AB |
| IZafe Group vs. Sprint Bioscience AB | IZafe Group vs. Acarix AS | IZafe Group vs. Annexin Pharmaceuticals AB |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
Other Complementary Tools
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios |