Correlation Between Repligen and NOMURA
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By analyzing existing cross correlation between Repligen and NOMURA 5709 09 JAN 26, you can compare the effects of market volatilities on Repligen and NOMURA 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 NOMURA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Repligen and NOMURA.
Diversification Opportunities for Repligen and NOMURA
Good diversification
The 3 months correlation between Repligen and NOMURA is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding Repligen and NOMURA 5709 09 JAN 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NOMURA 5709 09 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 NOMURA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NOMURA 5709 09 has no effect on the direction of Repligen i.e., Repligen and NOMURA go up and down completely randomly.
Pair Corralation between Repligen and NOMURA
Given the investment horizon of 90 days Repligen is expected to generate 23.39 times more return on investment than NOMURA. However, Repligen is 23.39 times more volatile than NOMURA 5709 09 JAN 26. It trades about 0.11 of its potential returns per unit of risk. NOMURA 5709 09 JAN 26 is currently generating about 0.08 per unit of risk. If you would invest 13,951 in Repligen on September 12, 2024 and sell it today you would earn a total of 1,243 from holding Repligen or generate 8.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Repligen vs. NOMURA 5709 09 JAN 26
Performance |
| Timeline |
| Repligen |
| NOMURA 5709 09 |
Repligen and NOMURA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Repligen and NOMURA
The main advantage of trading using opposite Repligen and NOMURA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Repligen position performs unexpectedly, NOMURA 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 NOMURA will offset losses from the drop in NOMURA's long position.| Repligen vs. Intuitive Surgical | Repligen vs. ResMed Inc | Repligen vs. Merit Medical Systems | Repligen vs. ICU Medical |
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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