Correlation Between Cellink AB and Anteris Technologies
Can any of the company-specific risk be diversified away by investing in both Cellink AB and Anteris Technologies 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 Cellink AB and Anteris Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cellink AB and Anteris Technologies, you can compare the effects of market volatilities on Cellink AB and Anteris Technologies 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 Cellink AB with a short position of Anteris Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cellink AB and Anteris Technologies.
Diversification Opportunities for Cellink AB and Anteris Technologies
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cellink and Anteris is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Cellink AB and Anteris Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anteris Technologies and Cellink AB 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 Cellink AB are associated (or correlated) with Anteris Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anteris Technologies has no effect on the direction of Cellink AB i.e., Cellink AB and Anteris Technologies go up and down completely randomly.
Pair Corralation between Cellink AB and Anteris Technologies
If you would invest 301.00 in Cellink AB on December 1, 2024 and sell it today you would earn a total of 64.00 from holding Cellink AB or generate 21.26% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Cellink AB vs. Anteris Technologies
Performance |
Timeline |
Cellink AB |
Anteris Technologies |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Cellink AB and Anteris Technologies Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Cellink AB and Anteris Technologies
The main advantage of trading using opposite Cellink AB and Anteris Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cellink AB position performs unexpectedly, Anteris Technologies 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 Anteris Technologies will offset losses from the drop in Anteris Technologies' long position.Cellink AB vs. Aurora Spine | Cellink AB vs. Ainos Inc | Cellink AB vs. Armm Inc | Cellink AB vs. Bone Biologics Corp |
Anteris Technologies vs. Ainos Inc | Anteris Technologies vs. Armm Inc | Anteris Technologies vs. Cellink AB | Anteris Technologies vs. Bone Biologics Corp |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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