Correlation Between Lipocine and Boxed
Can any of the company-specific risk be diversified away by investing in both Lipocine and Boxed 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 Lipocine and Boxed into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lipocine and Boxed Inc, you can compare the effects of market volatilities on Lipocine and Boxed 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 Lipocine with a short position of Boxed. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lipocine and Boxed.
Diversification Opportunities for Lipocine and Boxed
Average diversification
The 3 months correlation between Lipocine and Boxed is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding Lipocine and Boxed Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Boxed Inc and Lipocine 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 Lipocine are associated (or correlated) with Boxed. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Boxed Inc has no effect on the direction of Lipocine i.e., Lipocine and Boxed go up and down completely randomly.
Pair Corralation between Lipocine and Boxed
If you would invest 236.00 in Lipocine on August 25, 2024 and sell it today you would earn a total of 279.00 from holding Lipocine or generate 118.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 0.37% |
| Values | Daily Returns |
Lipocine vs. Boxed Inc
Performance |
| Timeline |
| Lipocine |
| Boxed Inc |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Lipocine and Boxed Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lipocine and Boxed
The main advantage of trading using opposite Lipocine and Boxed positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lipocine position performs unexpectedly, Boxed 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 Boxed will offset losses from the drop in Boxed's long position.| Lipocine vs. Capricor Therapeutics | Lipocine vs. Akari Therapeutics PLC | Lipocine vs. Soleno Therapeutics | Lipocine vs. Bio Path Holdings |
| Boxed vs. Lipocine | Boxed vs. Senmiao Technology | Boxed vs. Xponential Fitness | Boxed vs. Teleflex Incorporated |
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 Stocks Directory module to find actively traded stocks across global markets.
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