Correlation Between Lipocine and MICROSOFT
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By analyzing existing cross correlation between Lipocine and MICROSOFT PORATION, you can compare the effects of market volatilities on Lipocine and MICROSOFT 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 MICROSOFT. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lipocine and MICROSOFT.
Diversification Opportunities for Lipocine and MICROSOFT
Excellent diversification
The 3 months correlation between Lipocine and MICROSOFT is -0.61. Overlapping area represents the amount of risk that can be diversified away by holding Lipocine and MICROSOFT PORATION in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MICROSOFT PORATION 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 MICROSOFT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MICROSOFT PORATION has no effect on the direction of Lipocine i.e., Lipocine and MICROSOFT go up and down completely randomly.
Pair Corralation between Lipocine and MICROSOFT
Given the investment horizon of 90 days Lipocine is expected to generate 4.31 times more return on investment than MICROSOFT. However, Lipocine is 4.31 times more volatile than MICROSOFT PORATION. It trades about 0.02 of its potential returns per unit of risk. MICROSOFT PORATION is currently generating about 0.0 per unit of risk. If you would invest 680.00 in Lipocine on September 14, 2024 and sell it today you would lose (154.00) from holding Lipocine or give up 22.65% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.6% |
| Values | Daily Returns |
Lipocine vs. MICROSOFT PORATION
Performance |
| Timeline |
| Lipocine |
| MICROSOFT PORATION |
Lipocine and MICROSOFT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lipocine and MICROSOFT
The main advantage of trading using opposite Lipocine and MICROSOFT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lipocine position performs unexpectedly, MICROSOFT 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 MICROSOFT will offset losses from the drop in MICROSOFT's long position.| Lipocine vs. Reviva Pharmaceuticals Holdings | Lipocine vs. ZyVersa Therapeutics | Lipocine vs. Unicycive Therapeutics | Lipocine vs. Checkpoint Therapeutics |
| MICROSOFT vs. Lipocine | MICROSOFT vs. Radcom | MICROSOFT vs. SunLink Health Systems | MICROSOFT vs. RadNet Inc |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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