Correlation Between Lipocine and 36158FAD2
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By analyzing existing cross correlation between Lipocine and GE GLOBAL INS, you can compare the effects of market volatilities on Lipocine and 36158FAD2 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 36158FAD2. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lipocine and 36158FAD2.
Diversification Opportunities for Lipocine and 36158FAD2
Modest diversification
The 3 months correlation between Lipocine and 36158FAD2 is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Lipocine and GE GLOBAL INS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GE GLOBAL INS 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 36158FAD2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GE GLOBAL INS has no effect on the direction of Lipocine i.e., Lipocine and 36158FAD2 go up and down completely randomly.
Pair Corralation between Lipocine and 36158FAD2
Given the investment horizon of 90 days Lipocine is expected to generate 3.61 times more return on investment than 36158FAD2. However, Lipocine is 3.61 times more volatile than GE GLOBAL INS. It trades about 0.08 of its potential returns per unit of risk. GE GLOBAL INS is currently generating about -0.03 per unit of risk. If you would invest 263.00 in Lipocine on September 12, 2024 and sell it today you would earn a total of 268.00 from holding Lipocine or generate 101.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 34.68% |
| Values | Daily Returns |
Lipocine vs. GE GLOBAL INS
Performance |
| Timeline |
| Lipocine |
| GE GLOBAL INS |
Lipocine and 36158FAD2 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lipocine and 36158FAD2
The main advantage of trading using opposite Lipocine and 36158FAD2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lipocine position performs unexpectedly, 36158FAD2 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 36158FAD2 will offset losses from the drop in 36158FAD2's long position.| Lipocine vs. Reviva Pharmaceuticals Holdings | Lipocine vs. ZyVersa Therapeutics | Lipocine vs. Unicycive Therapeutics | Lipocine vs. Checkpoint Therapeutics |
| 36158FAD2 vs. AEP TEX INC | 36158FAD2 vs. US BANK NATIONAL | 36158FAD2 vs. Recursion Pharmaceuticals | 36158FAD2 vs. SoundHound AI |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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