Correlation Between Regen BioPharma and Mymetics Corp

Can any of the company-specific risk be diversified away by investing in both Regen BioPharma and Mymetics Corp 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 Regen BioPharma and Mymetics Corp into the same portfolio, which is an essential part of the fundamental portfolio management process.

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

Diversification Opportunities for Regen BioPharma and Mymetics Corp

0.0

Correlation Coefficient

Regen BioPharma  Mymetics Corp

Pay attention - limited upside

The 3 months correlation between Regen and Mymetics is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Regen BioPharma and Mymetics Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mymetics Corp and Regen 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 Regen BioPharma are associated (or correlated) with Mymetics Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mymetics Corp has no effect on the direction of Regen BioPharma i.e., Regen BioPharma and Mymetics Corp go up and down completely randomly.

Pair Corralation between Regen BioPharma and Mymetics Corp

If you would invest  15.00  in Regen BioPharma on September 4, 2024 and sell it today you would lose (9.49) from holding Regen BioPharma or give up 63.27% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	98.44%
Values	Daily Returns

Regen BioPharma  vs.  Mymetics Corp

Regen BioPharma

Risk-Adjusted Performance

8 of 100

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Regen BioPharma are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. Even with relatively inconsistent fundamental drivers, Regen BioPharma reported solid returns over the last few months and may actually be approaching a breakup point.

Mymetics Corp

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Mymetics Corp has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly strong primary indicators, Mymetics Corp is not utilizing all of its potentials. The latest stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with Regen BioPharma and Mymetics Corp

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

The idea behind Regen BioPharma and Mymetics Corp 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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.