Correlation Between InMode and SVELEV
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By analyzing existing cross correlation between InMode and SVELEV 13 10 FEB 28, you can compare the effects of market volatilities on InMode and SVELEV 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 InMode with a short position of SVELEV. Check out your portfolio center. Please also check ongoing floating volatility patterns of InMode and SVELEV.
Diversification Opportunities for InMode and SVELEV
Pay attention - limited upside
The 3 months correlation between InMode and SVELEV is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding InMode and SVELEV 13 10 FEB 28 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SVELEV 13 10 and InMode 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 InMode are associated (or correlated) with SVELEV. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SVELEV 13 10 has no effect on the direction of InMode i.e., InMode and SVELEV go up and down completely randomly.
Pair Corralation between InMode and SVELEV
Given the investment horizon of 90 days InMode is expected to generate 13.36 times more return on investment than SVELEV. However, InMode is 13.36 times more volatile than SVELEV 13 10 FEB 28. It trades about 0.05 of its potential returns per unit of risk. SVELEV 13 10 FEB 28 is currently generating about -0.13 per unit of risk. If you would invest 1,706 in InMode on September 14, 2024 and sell it today you would earn a total of 120.00 from holding InMode or generate 7.03% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 75.0% |
Values | Daily Returns |
InMode vs. SVELEV 13 10 FEB 28
Performance |
Timeline |
InMode |
SVELEV 13 10 |
InMode and SVELEV Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with InMode and SVELEV
The main advantage of trading using opposite InMode and SVELEV positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if InMode position performs unexpectedly, SVELEV 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 SVELEV will offset losses from the drop in SVELEV's long position.InMode vs. TransMedics Group | InMode vs. Inspire Medical Systems | InMode vs. Inari Medical | InMode vs. Insulet |
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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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