Correlation Between 929043AK3 and Lipocine
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By analyzing existing cross correlation between VNO 215 01 JUN 26 and Lipocine, you can compare the effects of market volatilities on 929043AK3 and Lipocine 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 929043AK3 with a short position of Lipocine. Check out your portfolio center. Please also check ongoing floating volatility patterns of 929043AK3 and Lipocine.
Diversification Opportunities for 929043AK3 and Lipocine
Significant diversification
The 3 months correlation between 929043AK3 and Lipocine is 0.02. Overlapping area represents the amount of risk that can be diversified away by holding VNO 215 01 JUN 26 and Lipocine in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lipocine and 929043AK3 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 VNO 215 01 JUN 26 are associated (or correlated) with Lipocine. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lipocine has no effect on the direction of 929043AK3 i.e., 929043AK3 and Lipocine go up and down completely randomly.
Pair Corralation between 929043AK3 and Lipocine
Assuming the 90 days trading horizon VNO 215 01 JUN 26 is expected to generate 0.5 times more return on investment than Lipocine. However, VNO 215 01 JUN 26 is 2.02 times less risky than Lipocine. It trades about -0.24 of its potential returns per unit of risk. Lipocine is currently generating about -0.35 per unit of risk. If you would invest 9,570 in VNO 215 01 JUN 26 on November 29, 2024 and sell it today you would lose (1,072) from holding VNO 215 01 JUN 26 or give up 11.2% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
VNO 215 01 JUN 26 vs. Lipocine
Performance |
| Timeline |
| VNO 215 01 |
| Lipocine |
929043AK3 and Lipocine Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 929043AK3 and Lipocine
The main advantage of trading using opposite 929043AK3 and Lipocine positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 929043AK3 position performs unexpectedly, Lipocine 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 Lipocine will offset losses from the drop in Lipocine's long position.| 929043AK3 vs. Titan International | 929043AK3 vs. EMCOR Group | 929043AK3 vs. SLR Investment Corp | 929043AK3 vs. Hurco Companies |
| 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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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