Correlation Between Implantica and Mendus AB
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By analyzing existing cross correlation between Implantica AG and Mendus AB, you can compare the effects of market volatilities on Implantica and Mendus AB 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 Implantica with a short position of Mendus AB. Check out your portfolio center. Please also check ongoing floating volatility patterns of Implantica and Mendus AB.
Diversification Opportunities for Implantica and Mendus AB
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Implantica and Mendus is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Implantica AG and Mendus AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mendus AB and Implantica 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 Implantica AG are associated (or correlated) with Mendus AB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mendus AB has no effect on the direction of Implantica i.e., Implantica and Mendus AB go up and down completely randomly.
Pair Corralation between Implantica and Mendus AB
Assuming the 90 days trading horizon Implantica AG is expected to generate 1.23 times more return on investment than Mendus AB. However, Implantica is 1.23 times more volatile than Mendus AB. It trades about -0.16 of its potential returns per unit of risk. Mendus AB is currently generating about -0.31 per unit of risk. If you would invest 4,120 in Implantica AG on September 1, 2024 and sell it today you would lose (510.00) from holding Implantica AG or give up 12.38% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Implantica AG vs. Mendus AB
Performance |
| Timeline |
| Implantica AG |
| Mendus AB |
Implantica and Mendus AB Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Implantica and Mendus AB
The main advantage of trading using opposite Implantica and Mendus AB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Implantica position performs unexpectedly, Mendus AB 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 Mendus AB will offset losses from the drop in Mendus AB's long position.| Implantica vs. Bonesupport Holding AB | Implantica vs. Surgical Science Sweden | Implantica vs. Storytel AB |
| Mendus AB vs. Cantargia AB | Mendus AB vs. BioInvent International AB | Mendus AB vs. Alligator Bioscience AB | Mendus AB vs. Moberg Pharma 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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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