Correlation Between NewGenIvf Group and VSee Health,

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

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

Diversification Opportunities for NewGenIvf Group and VSee Health,

0.23

Correlation Coefficient

NewGenIvf Group  VSee Health,

Modest diversification

The 3 months correlation between NewGenIvf and VSee is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding NewGenIvf Group Limited and VSee Health, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on VSee Health, and NewGenIvf Group 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 NewGenIvf Group Limited are associated (or correlated) with VSee Health,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VSee Health, has no effect on the direction of NewGenIvf Group i.e., NewGenIvf Group and VSee Health, go up and down completely randomly.

Pair Corralation between NewGenIvf Group and VSee Health,

Assuming the 90 days horizon NewGenIvf Group Limited is expected to generate 1.34 times more return on investment than VSee Health,. However, NewGenIvf Group is 1.34 times more volatile than VSee Health,. It trades about 0.13 of its potential returns per unit of risk. VSee Health, is currently generating about 0.05 per unit of risk. If you would invest  4.88  in NewGenIvf Group Limited on September 30, 2024 and sell it today you would lose (0.39) from holding NewGenIvf Group Limited or give up 7.99% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	95.24%
Values	Daily Returns

NewGenIvf Group Limited  vs.  VSee Health,

NewGenIvf Group

Risk-Adjusted Performance

15 of 100

Good

Compared to the overall equity markets, risk-adjusted returns on investments in NewGenIvf Group Limited are ranked lower than 15 (%) of all global equities and portfolios over the last 90 days. In spite of fairly unfluctuating technical and fundamental indicators, NewGenIvf Group showed solid returns over the last few months and may actually be approaching a breakup point.

VSee Health,

Risk-Adjusted Performance

11 of 100

Good

Compared to the overall equity markets, risk-adjusted returns on investments in VSee Health, are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. In spite of fairly conflicting technical and fundamental indicators, VSee Health, showed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with NewGenIvf Group and VSee Health,

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

The idea behind NewGenIvf Group Limited and VSee Health, 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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.