Correlation Between Repligen and Alexandria
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By analyzing existing cross correlation between Repligen and Alexandria Real Estate, you can compare the effects of market volatilities on Repligen and Alexandria 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 Repligen with a short position of Alexandria. Check out your portfolio center. Please also check ongoing floating volatility patterns of Repligen and Alexandria.
Diversification Opportunities for Repligen and Alexandria
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between Repligen and Alexandria is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding Repligen and Alexandria Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Alexandria Real Estate and Repligen 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 Repligen are associated (or correlated) with Alexandria. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Alexandria Real Estate has no effect on the direction of Repligen i.e., Repligen and Alexandria go up and down completely randomly.
Pair Corralation between Repligen and Alexandria
Given the investment horizon of 90 days Repligen is expected to generate 1.3 times more return on investment than Alexandria. However, Repligen is 1.3 times more volatile than Alexandria Real Estate. It trades about 0.06 of its potential returns per unit of risk. Alexandria Real Estate is currently generating about -0.03 per unit of risk. If you would invest 14,193 in Repligen on September 12, 2024 and sell it today you would earn a total of 1,332 from holding Repligen or generate 9.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 87.5% |
| Values | Daily Returns |
Repligen vs. Alexandria Real Estate
Performance |
| Timeline |
| Repligen |
| Alexandria Real Estate |
Repligen and Alexandria Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Repligen and Alexandria
The main advantage of trading using opposite Repligen and Alexandria positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Repligen position performs unexpectedly, Alexandria 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 Alexandria will offset losses from the drop in Alexandria's long position.| Repligen vs. Intuitive Surgical | Repligen vs. ResMed Inc | Repligen vs. Merit Medical Systems | Repligen vs. ICU Medical |
| Alexandria vs. AEP TEX INC | Alexandria vs. US BANK NATIONAL | Alexandria vs. Alphabet Inc Class C | Alexandria vs. InMode |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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