Correlation Between Inogen and BioSig Technologies,

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

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

Diversification Opportunities for Inogen and BioSig Technologies,

0.19

Correlation Coefficient

Inogen  BioSig Technologies,

Average diversification

The 3 months correlation between Inogen and BioSig is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding Inogen Inc and BioSig Technologies, Common in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BioSig Technologies, and Inogen 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 Inogen Inc are associated (or correlated) with BioSig Technologies,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BioSig Technologies, has no effect on the direction of Inogen i.e., Inogen and BioSig Technologies, go up and down completely randomly.

Pair Corralation between Inogen and BioSig Technologies,

Given the investment horizon of 90 days Inogen Inc is expected to generate 0.25 times more return on investment than BioSig Technologies,. However, Inogen Inc is 4.01 times less risky than BioSig Technologies,. It trades about -0.12 of its potential returns per unit of risk. BioSig Technologies, Common is currently generating about -0.09 per unit of risk. If you would invest  921.00  in Inogen Inc on September 22, 2024 and sell it today you would lose (73.00) from holding Inogen Inc or give up 7.93% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Inogen Inc  vs.  BioSig Technologies, Common

Inogen Inc

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Inogen Inc has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of unsteady performance in the last few months, the Stock's technical and fundamental indicators remain very healthy which may send shares a bit higher in January 2025. The recent disarray may also be a sign of long period up-swing for the firm investors.

BioSig Technologies,

Risk-Adjusted Performance

16 of 100

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in BioSig Technologies, Common are ranked lower than 16 (%) of all global equities and portfolios over the last 90 days. In spite of very unsteady technical and fundamental indicators, BioSig Technologies, displayed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Inogen and BioSig Technologies,

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

The idea behind Inogen Inc and BioSig Technologies, Common 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.

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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.