Correlation Between Ainos and Cellink AB

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

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

Diversification Opportunities for Ainos and Cellink AB

0.52

Correlation Coefficient

Ainos  Cellink AB

Very weak diversification

The 3 months correlation between Ainos and Cellink is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Ainos Inc and Cellink AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cellink AB and Ainos 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 Ainos Inc are associated (or correlated) with Cellink AB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cellink AB has no effect on the direction of Ainos i.e., Ainos and Cellink AB go up and down completely randomly.

Pair Corralation between Ainos and Cellink AB

Assuming the 90 days horizon Ainos Inc is expected to generate 9.68 times more return on investment than Cellink AB. However, Ainos is 9.68 times more volatile than Cellink AB. It trades about 0.25 of its potential returns per unit of risk. Cellink AB is currently generating about 0.09 per unit of risk. If you would invest  5.11  in Ainos Inc on December 1, 2024 and sell it today you would earn a total of  16.89  from holding Ainos Inc or generate 330.53% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Weak
Accuracy	55.56%
Values	Daily Returns

Ainos Inc  vs.  Cellink AB

Ainos Inc

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Ainos Inc are ranked lower than 19 (%) of all global equities and portfolios over the last 90 days. In spite of fairly fragile fundamental indicators, Ainos showed solid returns over the last few months and may actually be approaching a breakup point.

Cellink AB

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Cellink AB are ranked lower than 7 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile forward-looking signals, Cellink AB reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Ainos and Cellink AB

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

The idea behind Ainos Inc and Cellink AB 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 Commodity Directory module to find actively traded commodities issued by global exchanges.