Correlation Between Lipocine and 031162DG2
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By analyzing existing cross correlation between Lipocine and AMGN 44 22 FEB 62, you can compare the effects of market volatilities on Lipocine and 031162DG2 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 031162DG2. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lipocine and 031162DG2.
Diversification Opportunities for Lipocine and 031162DG2
Very good diversification
The 3 months correlation between Lipocine and 031162DG2 is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding Lipocine and AMGN 44 22 FEB 62 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AMGN 44 22 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 031162DG2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AMGN 44 22 has no effect on the direction of Lipocine i.e., Lipocine and 031162DG2 go up and down completely randomly.
Pair Corralation between Lipocine and 031162DG2
Given the investment horizon of 90 days Lipocine is expected to generate 3.79 times more return on investment than 031162DG2. However, Lipocine is 3.79 times more volatile than AMGN 44 22 FEB 62. It trades about 0.01 of its potential returns per unit of risk. AMGN 44 22 FEB 62 is currently generating about 0.0 per unit of risk. If you would invest 696.00 in Lipocine on September 3, 2024 and sell it today you would lose (242.00) from holding Lipocine or give up 34.77% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 82.02% |
| Values | Daily Returns |
Lipocine vs. AMGN 44 22 FEB 62
Performance |
| Timeline |
| Lipocine |
| AMGN 44 22 |
Lipocine and 031162DG2 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lipocine and 031162DG2
The main advantage of trading using opposite Lipocine and 031162DG2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lipocine position performs unexpectedly, 031162DG2 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 031162DG2 will offset losses from the drop in 031162DG2's long position.| Lipocine vs. DiaMedica Therapeutics | Lipocine vs. Lyra Therapeutics | Lipocine vs. Centessa Pharmaceuticals PLC |
| 031162DG2 vs. Sweetgreen | 031162DG2 vs. Starbucks | 031162DG2 vs. Kura Sushi USA | 031162DG2 vs. The Cheesecake Factory |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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