Correlation Between Lipocine and GEORGETOWN
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By analyzing existing cross correlation between Lipocine and GEORGETOWN UNIV 4315, you can compare the effects of market volatilities on Lipocine and GEORGETOWN 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 GEORGETOWN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lipocine and GEORGETOWN.
Diversification Opportunities for Lipocine and GEORGETOWN
0.32 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Lipocine and GEORGETOWN is 0.32. Overlapping area represents the amount of risk that can be diversified away by holding Lipocine and GEORGETOWN UNIV 4315 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GEORGETOWN UNIV 4315 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 GEORGETOWN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GEORGETOWN UNIV 4315 has no effect on the direction of Lipocine i.e., Lipocine and GEORGETOWN go up and down completely randomly.
Pair Corralation between Lipocine and GEORGETOWN
Given the investment horizon of 90 days Lipocine is expected to under-perform the GEORGETOWN. But the stock apears to be less risky and, when comparing its historical volatility, Lipocine is 1.52 times less risky than GEORGETOWN. The stock trades about -0.14 of its potential returns per unit of risk. The GEORGETOWN UNIV 4315 is currently generating about 0.54 of returns per unit of risk over similar time horizon. If you would invest 8,180 in GEORGETOWN UNIV 4315 on October 25, 2024 and sell it today you would earn a total of 786.00 from holding GEORGETOWN UNIV 4315 or generate 9.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 16.67% |
| Values | Daily Returns |
Lipocine vs. GEORGETOWN UNIV 4315
Performance |
| Timeline |
| Lipocine |
| GEORGETOWN UNIV 4315 |
Lipocine and GEORGETOWN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lipocine and GEORGETOWN
The main advantage of trading using opposite Lipocine and GEORGETOWN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lipocine position performs unexpectedly, GEORGETOWN 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 GEORGETOWN will offset losses from the drop in GEORGETOWN's long position.| Lipocine vs. Terns Pharmaceuticals | Lipocine vs. X4 Pharmaceuticals | Lipocine vs. Day One Biopharmaceuticals | Lipocine vs. Hookipa Pharma |
| GEORGETOWN vs. Harmony Gold Mining | GEORGETOWN vs. Mesa Air Group | GEORGETOWN vs. International Consolidated Airlines | GEORGETOWN vs. Delta Air Lines |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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