Correlation Between Hangzhou Alltest and Axogen
Specify exactly 2 symbols:
By analyzing existing cross correlation between Hangzhou Alltest Biotech and Axogen Inc, you can compare the effects of market volatilities on Hangzhou Alltest and Axogen 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 Hangzhou Alltest with a short position of Axogen. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hangzhou Alltest and Axogen.
Diversification Opportunities for Hangzhou Alltest and Axogen
-0.63 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Hangzhou and Axogen is -0.63. Overlapping area represents the amount of risk that can be diversified away by holding Hangzhou Alltest Biotech and Axogen Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Axogen Inc and Hangzhou Alltest 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 Hangzhou Alltest Biotech are associated (or correlated) with Axogen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Axogen Inc has no effect on the direction of Hangzhou Alltest i.e., Hangzhou Alltest and Axogen go up and down completely randomly.
Pair Corralation between Hangzhou Alltest and Axogen
Assuming the 90 days trading horizon Hangzhou Alltest Biotech is expected to under-perform the Axogen. But the stock apears to be less risky and, when comparing its historical volatility, Hangzhou Alltest Biotech is 3.47 times less risky than Axogen. The stock trades about -0.07 of its potential returns per unit of risk. The Axogen Inc is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest 1,690 in Axogen Inc on October 7, 2025 and sell it today you would earn a total of 1,410 from holding Axogen Inc or generate 83.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 96.83% |
| Values | Daily Returns |
Hangzhou Alltest Biotech vs. Axogen Inc
Performance |
| Timeline |
| Hangzhou Alltest Biotech |
| Axogen Inc |
Hangzhou Alltest and Axogen Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hangzhou Alltest and Axogen
The main advantage of trading using opposite Hangzhou Alltest and Axogen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hangzhou Alltest position performs unexpectedly, Axogen 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 Axogen will offset losses from the drop in Axogen's long position.| Hangzhou Alltest vs. Sinosteel Engineering and | Hangzhou Alltest vs. Zhejiang Publishing Media | Hangzhou Alltest vs. Anhui Fuhuang Steel | Hangzhou Alltest vs. Wuxi Xuelang Environmental |
| Axogen vs. Iradimed Co | Axogen vs. InMode | Axogen vs. Integra LifeSciences Holdings | Axogen vs. Tandem Diabetes Care |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Other Complementary Tools
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm |