Correlation Between Ningbo MedicalSystem and Esperion Therapeutics
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By analyzing existing cross correlation between Ningbo MedicalSystem Biotechnology and Esperion Therapeutics, you can compare the effects of market volatilities on Ningbo MedicalSystem and Esperion 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 Ningbo MedicalSystem with a short position of Esperion Therapeutics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ningbo MedicalSystem and Esperion Therapeutics.
Diversification Opportunities for Ningbo MedicalSystem and Esperion Therapeutics
-0.82 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Ningbo and Esperion is -0.82. Overlapping area represents the amount of risk that can be diversified away by holding Ningbo MedicalSystem Biotechno and Esperion Therapeutics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Esperion Therapeutics and Ningbo MedicalSystem 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 Ningbo MedicalSystem Biotechnology are associated (or correlated) with Esperion Therapeutics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Esperion Therapeutics has no effect on the direction of Ningbo MedicalSystem i.e., Ningbo MedicalSystem and Esperion Therapeutics go up and down completely randomly.
Pair Corralation between Ningbo MedicalSystem and Esperion Therapeutics
Assuming the 90 days trading horizon Ningbo MedicalSystem Biotechnology is expected to under-perform the Esperion Therapeutics. But the stock apears to be less risky and, when comparing its historical volatility, Ningbo MedicalSystem Biotechnology is 4.33 times less risky than Esperion Therapeutics. The stock trades about -0.08 of its potential returns per unit of risk. The Esperion Therapeutics is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 205.00 in Esperion Therapeutics on August 15, 2025 and sell it today you would earn a total of 104.50 from holding Esperion Therapeutics or generate 50.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 92.19% |
| Values | Daily Returns |
Ningbo MedicalSystem Biotechno vs. Esperion Therapeutics
Performance |
| Timeline |
| Ningbo MedicalSystem |
| Esperion Therapeutics |
Ningbo MedicalSystem and Esperion Therapeutics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ningbo MedicalSystem and Esperion Therapeutics
The main advantage of trading using opposite Ningbo MedicalSystem and Esperion Therapeutics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ningbo MedicalSystem position performs unexpectedly, Esperion 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 Esperion Therapeutics will offset losses from the drop in Esperion Therapeutics' long position.| Ningbo MedicalSystem vs. Hainan Haiqi Transportation | Ningbo MedicalSystem vs. Youyou Foods Co | Ningbo MedicalSystem vs. Great Sun Foods Co | Ningbo MedicalSystem vs. XiAn Dagang Road |
| Esperion Therapeutics vs. SNDL Inc | Esperion Therapeutics vs. SIGA Technologies | Esperion Therapeutics vs. Aquestive Therapeutics | Esperion Therapeutics vs. Emergent Biosolutions |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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