Correlation Between OpGen and Vivos Therapeutics

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

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

Diversification Opportunities for OpGen and Vivos Therapeutics

0.0

Correlation Coefficient

OpGen  Vivos Therapeutics

Pay attention - limited upside

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

Pair Corralation between OpGen and Vivos Therapeutics

If you would invest (100.00) in OpGen Inc on December 25, 2024 and sell it today you would earn a total of  100.00  from holding OpGen Inc or generate -100.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

OpGen Inc  vs.  Vivos Therapeutics

OpGen Inc

Risk-Adjusted Performance

Very Weak

Over the last 90 days OpGen Inc has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy technical and fundamental indicators, OpGen is not utilizing all of its potentials. The current stock price disarray, may contribute to short-term losses for the investors.

Vivos Therapeutics

Risk-Adjusted Performance

Very Weak

Over the last 90 days Vivos Therapeutics has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fragile performance in the last few months, the Stock's basic indicators remain comparatively stable which may send shares a bit higher in April 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Pair Trading with OpGen and Vivos Therapeutics

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

The idea behind OpGen Inc and Vivos Therapeutics 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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.