Correlation Between Lipocine and TARGET
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By analyzing existing cross correlation between Lipocine and TARGET PORATION, you can compare the effects of market volatilities on Lipocine and TARGET 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 TARGET. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lipocine and TARGET.
Diversification Opportunities for Lipocine and TARGET
Very good diversification
The 3 months correlation between Lipocine and TARGET is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding Lipocine and TARGET PORATION in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TARGET 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 TARGET. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TARGET PORATION has no effect on the direction of Lipocine i.e., Lipocine and TARGET go up and down completely randomly.
Pair Corralation between Lipocine and TARGET
Given the investment horizon of 90 days Lipocine is expected to generate 9.45 times more return on investment than TARGET. However, Lipocine is 9.45 times more volatile than TARGET PORATION. It trades about 0.02 of its potential returns per unit of risk. TARGET PORATION is currently generating about 0.01 per unit of risk. If you would invest 697.00 in Lipocine on September 12, 2024 and sell it today you would lose (177.00) from holding Lipocine or give up 25.39% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 99.6% |
| Values | Daily Returns |
Lipocine vs. TARGET PORATION
Performance |
| Timeline |
| Lipocine |
| TARGET PORATION |
Lipocine and TARGET Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lipocine and TARGET
The main advantage of trading using opposite Lipocine and TARGET positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lipocine position performs unexpectedly, TARGET 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 TARGET will offset losses from the drop in TARGET's long position.| Lipocine vs. Reviva Pharmaceuticals Holdings | Lipocine vs. ZyVersa Therapeutics | Lipocine vs. Unicycive Therapeutics | Lipocine vs. Checkpoint Therapeutics |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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