Correlation Between Lipocine and 594918BE3
Specify exactly 2 symbols:
By analyzing existing cross correlation between Lipocine and MICROSOFT P 4, you can compare the effects of market volatilities on Lipocine and 594918BE3 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 594918BE3. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lipocine and 594918BE3.
Diversification Opportunities for Lipocine and 594918BE3
Very good diversification
The 3 months correlation between Lipocine and 594918BE3 is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding Lipocine and MICROSOFT P 4 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MICROSOFT P 4 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 594918BE3. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MICROSOFT P 4 has no effect on the direction of Lipocine i.e., Lipocine and 594918BE3 go up and down completely randomly.
Pair Corralation between Lipocine and 594918BE3
Given the investment horizon of 90 days Lipocine is expected to generate 2.94 times more return on investment than 594918BE3. However, Lipocine is 2.94 times more volatile than MICROSOFT P 4. It trades about 0.02 of its potential returns per unit of risk. MICROSOFT P 4 is currently generating about 0.01 per unit of risk. If you would invest 690.00 in Lipocine on September 13, 2024 and sell it today you would lose (159.00) from holding Lipocine or give up 23.04% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 77.53% |
| Values | Daily Returns |
Lipocine vs. MICROSOFT P 4
Performance |
| Timeline |
| Lipocine |
| MICROSOFT P 4 |
Lipocine and 594918BE3 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lipocine and 594918BE3
The main advantage of trading using opposite Lipocine and 594918BE3 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lipocine position performs unexpectedly, 594918BE3 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 594918BE3 will offset losses from the drop in 594918BE3's long position.| Lipocine vs. Emergent Biosolutions | Lipocine vs. Bausch Health Companies | Lipocine vs. Neurocrine Biosciences | Lipocine vs. Teva Pharma Industries |
| 594918BE3 vs. Asure Software | 594918BE3 vs. Amkor Technology | 594918BE3 vs. ServiceNow | 594918BE3 vs. Lipocine |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
Other Complementary Tools
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Fundamental Analysis View fundamental data based on most recent published financial statements |