Correlation Between Lixte Biotechnology and Bellicum Pharmaceuticals
Can any of the company-specific risk be diversified away by investing in both Lixte Biotechnology and Bellicum Pharmaceuticals 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 Lixte Biotechnology and Bellicum Pharmaceuticals into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lixte Biotechnology Holdings and Bellicum Pharmaceuticals, you can compare the effects of market volatilities on Lixte Biotechnology and Bellicum Pharmaceuticals 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 Lixte Biotechnology with a short position of Bellicum Pharmaceuticals. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lixte Biotechnology and Bellicum Pharmaceuticals.
Diversification Opportunities for Lixte Biotechnology and Bellicum Pharmaceuticals
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Lixte and Bellicum is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Lixte Biotechnology Holdings and Bellicum Pharmaceuticals in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bellicum Pharmaceuticals and Lixte Biotechnology 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 Lixte Biotechnology Holdings are associated (or correlated) with Bellicum Pharmaceuticals. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bellicum Pharmaceuticals has no effect on the direction of Lixte Biotechnology i.e., Lixte Biotechnology and Bellicum Pharmaceuticals go up and down completely randomly.
Pair Corralation between Lixte Biotechnology and Bellicum Pharmaceuticals
If you would invest 180.00 in Lixte Biotechnology Holdings on November 9, 2024 and sell it today you would earn a total of 100.00 from holding Lixte Biotechnology Holdings or generate 55.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Lixte Biotechnology Holdings vs. Bellicum Pharmaceuticals
Performance |
| Timeline |
| Lixte Biotechnology |
| Bellicum Pharmaceuticals |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Lixte Biotechnology and Bellicum Pharmaceuticals Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lixte Biotechnology and Bellicum Pharmaceuticals
The main advantage of trading using opposite Lixte Biotechnology and Bellicum Pharmaceuticals positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lixte Biotechnology position performs unexpectedly, Bellicum Pharmaceuticals 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 Bellicum Pharmaceuticals will offset losses from the drop in Bellicum Pharmaceuticals' long position.| Lixte Biotechnology vs. Allarity Therapeutics | Lixte Biotechnology vs. Virax Biolabs Group | Lixte Biotechnology vs. Quoin Pharmaceuticals Ltd | Lixte Biotechnology vs. Indaptus Therapeutics |
| Bellicum Pharmaceuticals vs. Cellectis SA | Bellicum Pharmaceuticals vs. Adaptimmune Therapeutics Plc | Bellicum Pharmaceuticals vs. Atara Biotherapeutics | Bellicum Pharmaceuticals vs. Affimed NV |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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