Correlation Between Repligen and 456837AH6
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By analyzing existing cross correlation between Repligen and ING GROEP N, you can compare the effects of market volatilities on Repligen and 456837AH6 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 456837AH6. Check out your portfolio center. Please also check ongoing floating volatility patterns of Repligen and 456837AH6.
Diversification Opportunities for Repligen and 456837AH6
Good diversification
The 3 months correlation between Repligen and 456837AH6 is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding Repligen and ING GROEP N in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ING GROEP N 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 456837AH6. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ING GROEP N has no effect on the direction of Repligen i.e., Repligen and 456837AH6 go up and down completely randomly.
Pair Corralation between Repligen and 456837AH6
Given the investment horizon of 90 days Repligen is expected to generate 10.88 times more return on investment than 456837AH6. However, Repligen is 10.88 times more volatile than ING GROEP N. It trades about 0.06 of its potential returns per unit of risk. ING GROEP N is currently generating about -0.18 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 | 79.69% |
| Values | Daily Returns |
Repligen vs. ING GROEP N
Performance |
| Timeline |
| Repligen |
| ING GROEP N |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Repligen and 456837AH6 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Repligen and 456837AH6
The main advantage of trading using opposite Repligen and 456837AH6 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Repligen position performs unexpectedly, 456837AH6 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 456837AH6 will offset losses from the drop in 456837AH6's long position.| Repligen vs. Intuitive Surgical | Repligen vs. ResMed Inc | Repligen vs. Merit Medical Systems | Repligen vs. ICU Medical |
| 456837AH6 vs. Air Lease | 456837AH6 vs. Avis Budget Group | 456837AH6 vs. FTAI Aviation Ltd | 456837AH6 vs. U Haul Holding |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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