Correlation Between Immix Biopharma and YS Biopharma

Can any of the company-specific risk be diversified away by investing in both Immix Biopharma and YS Biopharma at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Immix Biopharma and YS Biopharma into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Immix Biopharma and YS Biopharma Co,, you can compare the effects of market volatilities on Immix Biopharma and YS Biopharma 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 Immix Biopharma with a short position of YS Biopharma. Check out your portfolio center. Please also check ongoing floating volatility patterns of Immix Biopharma and YS Biopharma.

Diversification Opportunities for Immix Biopharma and YS Biopharma

-0.1

Correlation Coefficient

Immix Biopharma  YS Biopharma

Good diversification

The 3 months correlation between Immix and YS Biopharma is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Immix Biopharma and YS Biopharma Co, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on YS Biopharma Co, and Immix Biopharma 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 Immix Biopharma are associated (or correlated) with YS Biopharma. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of YS Biopharma Co, has no effect on the direction of Immix Biopharma i.e., Immix Biopharma and YS Biopharma go up and down completely randomly.

Pair Corralation between Immix Biopharma and YS Biopharma

If you would invest  204.00  in Immix Biopharma on September 3, 2024 and sell it today you would lose (3.00) from holding Immix Biopharma or give up 1.47% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	1.56%
Values	Daily Returns

Immix Biopharma  vs.  YS Biopharma Co,

Immix Biopharma

Risk-Adjusted Performance

2 of 100

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Immix Biopharma are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. In spite of fairly unsteady primary indicators, Immix Biopharma may actually be approaching a critical reversion point that can send shares even higher in January 2025.

YS Biopharma Co,

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days YS Biopharma Co, has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable basic indicators, YS Biopharma is not utilizing all of its potentials. The current stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with Immix Biopharma and YS Biopharma

The main advantage of trading using opposite Immix Biopharma and YS Biopharma positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Immix Biopharma position performs unexpectedly, YS Biopharma 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 YS Biopharma will offset losses from the drop in YS Biopharma's long position.

The idea behind Immix Biopharma and YS Biopharma Co, 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.

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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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.