Correlation Between Lipocine and 07786DAA4
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By analyzing existing cross correlation between Lipocine and BELL ATLANTIC PENNSYLVANIA INC, you can compare the effects of market volatilities on Lipocine and 07786DAA4 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 07786DAA4. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lipocine and 07786DAA4.
Diversification Opportunities for Lipocine and 07786DAA4
Very weak diversification
The 3 months correlation between Lipocine and 07786DAA4 is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Lipocine and BELL ATLANTIC PENNSYLVANIA INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BELL ATLANTIC PENNSY 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 07786DAA4. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BELL ATLANTIC PENNSY has no effect on the direction of Lipocine i.e., Lipocine and 07786DAA4 go up and down completely randomly.
Pair Corralation between Lipocine and 07786DAA4
Given the investment horizon of 90 days Lipocine is expected to generate 3.37 times more return on investment than 07786DAA4. However, Lipocine is 3.37 times more volatile than BELL ATLANTIC PENNSYLVANIA INC. It trades about 0.02 of its potential returns per unit of risk. BELL ATLANTIC PENNSYLVANIA INC is currently generating about 0.01 per unit of risk. If you would invest 680.00 in Lipocine on September 14, 2024 and sell it today you would lose (152.00) from holding Lipocine or give up 22.35% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 57.17% |
| Values | Daily Returns |
Lipocine vs. BELL ATLANTIC PENNSYLVANIA INC
Performance |
| Timeline |
| Lipocine |
| BELL ATLANTIC PENNSY |
Lipocine and 07786DAA4 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lipocine and 07786DAA4
The main advantage of trading using opposite Lipocine and 07786DAA4 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lipocine position performs unexpectedly, 07786DAA4 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 07786DAA4 will offset losses from the drop in 07786DAA4's long position.| Lipocine vs. Reviva Pharmaceuticals Holdings | Lipocine vs. ZyVersa Therapeutics | Lipocine vs. Unicycive Therapeutics | Lipocine vs. Checkpoint Therapeutics |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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