Correlation Between Alvotech and Reginn Hf

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

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

Diversification Opportunities for Alvotech and Reginn Hf

0.0

Correlation Coefficient

Alvotech  Reginn Hf

Pay attention - limited upside

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

Pair Corralation between Alvotech and Reginn Hf

If you would invest (100.00) in Reginn Hf on December 30, 2024 and sell it today you would earn a total of  100.00  from holding Reginn Hf or generate -100.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

Alvotech  vs.  Reginn Hf

Alvotech

Risk-Adjusted Performance

Very Weak

Over the last 90 days Alvotech has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's fundamental indicators remain rather sound which may send shares a bit higher in April 2025. The latest tumult may also be a sign of longer-term up-swing for the firm shareholders.

Reginn Hf

Risk-Adjusted Performance

Very Weak

Over the last 90 days Reginn Hf has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy technical and fundamental indicators, Reginn Hf is not utilizing all of its potentials. The current stock price disarray, may contribute to short-term losses for the investors.

Pair Trading with Alvotech and Reginn Hf

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

The idea behind Alvotech and Reginn Hf 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.