Correlation Between Lipocine and EDVLN
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By analyzing existing cross correlation between Lipocine and EDVLN 5 14 OCT 26, you can compare the effects of market volatilities on Lipocine and EDVLN 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 EDVLN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lipocine and EDVLN.
Diversification Opportunities for Lipocine and EDVLN
Poor diversification
The 3 months correlation between Lipocine and EDVLN is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding Lipocine and EDVLN 5 14 OCT 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EDVLN 5 14 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 EDVLN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EDVLN 5 14 has no effect on the direction of Lipocine i.e., Lipocine and EDVLN go up and down completely randomly.
Pair Corralation between Lipocine and EDVLN
Given the investment horizon of 90 days Lipocine is expected to generate 5.69 times more return on investment than EDVLN. However, Lipocine is 5.69 times more volatile than EDVLN 5 14 OCT 26. It trades about 0.03 of its potential returns per unit of risk. EDVLN 5 14 OCT 26 is currently generating about 0.14 per unit of risk. If you would invest 443.00 in Lipocine on August 31, 2024 and sell it today you would earn a total of 11.00 from holding Lipocine or generate 2.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 20.86% |
| Values | Daily Returns |
Lipocine vs. EDVLN 5 14 OCT 26
Performance |
| Timeline |
| Lipocine |
| EDVLN 5 14 |
Lipocine and EDVLN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lipocine and EDVLN
The main advantage of trading using opposite Lipocine and EDVLN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lipocine position performs unexpectedly, EDVLN 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 EDVLN will offset losses from the drop in EDVLN's long position.| Lipocine vs. Reviva Pharmaceuticals Holdings | Lipocine vs. ZyVersa Therapeutics | Lipocine vs. Unicycive Therapeutics | Lipocine vs. Checkpoint Therapeutics |
| EDVLN vs. Rumble Inc | EDVLN vs. Lindblad Expeditions Holdings | EDVLN vs. Paysafe | EDVLN vs. Norfolk Southern |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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