Correlation Between Cellink AB and Ingen Technologies

Can any of the company-specific risk be diversified away by investing in both Cellink AB and Ingen 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 Ingen 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 Ingen Technologies, you can compare the effects of market volatilities on Cellink AB and Ingen 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 Ingen Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cellink AB and Ingen Technologies.

Diversification Opportunities for Cellink AB and Ingen Technologies

0.0

Correlation Coefficient

Cellink AB  Ingen Technologies

Pay attention - limited upside

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

Pair Corralation between Cellink AB and Ingen Technologies

If you would invest  0.00  in Ingen Technologies on October 12, 2024 and sell it today you would earn a total of  0.00  from holding Ingen Technologies or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	90.48%
Values	Daily Returns

Cellink AB  vs.  Ingen Technologies

Cellink AB

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Cellink AB has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Stock's forward-looking signals remain nearly stable which may send shares a bit higher in February 2025. The current disturbance may also be a sign of long-run up-swing for the company stockholders.

Ingen Technologies

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Ingen Technologies has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable basic indicators, Ingen Technologies 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 Cellink AB and Ingen Technologies

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

The idea behind Cellink AB and Ingen Technologies 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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.