Correlation Between BPCEGP and Repligen
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By analyzing existing cross correlation between BPCEGP 45 15 MAR 25 and Repligen, you can compare the effects of market volatilities on BPCEGP and Repligen 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 BPCEGP with a short position of Repligen. Check out your portfolio center. Please also check ongoing floating volatility patterns of BPCEGP and Repligen.
Diversification Opportunities for BPCEGP and Repligen
Very good diversification
The 3 months correlation between BPCEGP and Repligen is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding BPCEGP 45 15 MAR 25 and Repligen in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Repligen and BPCEGP 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 BPCEGP 45 15 MAR 25 are associated (or correlated) with Repligen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Repligen has no effect on the direction of BPCEGP i.e., BPCEGP and Repligen go up and down completely randomly.
Pair Corralation between BPCEGP and Repligen
Assuming the 90 days trading horizon BPCEGP is expected to generate 1.39 times less return on investment than Repligen. But when comparing it to its historical volatility, BPCEGP 45 15 MAR 25 is 14.94 times less risky than Repligen. It trades about 0.04 of its potential returns per unit of risk. Repligen is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 17,799 in Repligen on September 3, 2024 and sell it today you would lose (2,745) from holding Repligen or give up 15.42% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 42.63% |
| Values | Daily Returns |
BPCEGP 45 15 MAR 25 vs. Repligen
Performance |
| Timeline |
| BPCEGP 45 15 |
| Repligen |
BPCEGP and Repligen Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BPCEGP and Repligen
The main advantage of trading using opposite BPCEGP and Repligen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BPCEGP position performs unexpectedly, Repligen 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 Repligen will offset losses from the drop in Repligen's long position.The idea behind BPCEGP 45 15 MAR 25 and Repligen pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| 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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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