Correlation Between Geron and Medigene
Can any of the company-specific risk be diversified away by investing in both Geron and Medigene 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 Geron and Medigene into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Geron and Medigene AG, you can compare the effects of market volatilities on Geron and Medigene 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 Geron with a short position of Medigene. Check out your portfolio center. Please also check ongoing floating volatility patterns of Geron and Medigene.
Diversification Opportunities for Geron and Medigene
Modest diversification
The 3 months correlation between Geron and Medigene is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Geron and Medigene AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Medigene AG and Geron 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 Geron are associated (or correlated) with Medigene. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Medigene AG has no effect on the direction of Geron i.e., Geron and Medigene go up and down completely randomly.
Pair Corralation between Geron and Medigene
If you would invest 387.00 in Geron on September 14, 2024 and sell it today you would earn a total of 5.00 from holding Geron or generate 1.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 4.76% |
| Values | Daily Returns |
Geron vs. Medigene AG
Performance |
| Timeline |
| Geron |
| Medigene AG |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Geron and Medigene Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Geron and Medigene
The main advantage of trading using opposite Geron and Medigene positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Geron position performs unexpectedly, Medigene 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 Medigene will offset losses from the drop in Medigene's long position.| Geron vs. Viking Therapeutics | Geron vs. TG Therapeutics | Geron vs. X4 Pharmaceuticals | Geron vs. PDS Biotechnology Corp |
| Medigene vs. Northwest Biotherapeutics | Medigene vs. Geron | Medigene vs. Advanced Proteome Therapeutics | Medigene vs. Oxford BioDynamics Plc |
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 CEOs Directory module to screen CEOs from public companies around the world.
Other Complementary Tools
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data |