Correlation Between Acumen Pharmaceuticals and Greenwich Lifesciences
Can any of the company-specific risk be diversified away by investing in both Acumen Pharmaceuticals and Greenwich Lifesciences 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 Acumen Pharmaceuticals and Greenwich Lifesciences into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Acumen Pharmaceuticals and Greenwich Lifesciences, you can compare the effects of market volatilities on Acumen Pharmaceuticals and Greenwich Lifesciences 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 Acumen Pharmaceuticals with a short position of Greenwich Lifesciences. Check out your portfolio center. Please also check ongoing floating volatility patterns of Acumen Pharmaceuticals and Greenwich Lifesciences.
Diversification Opportunities for Acumen Pharmaceuticals and Greenwich Lifesciences
-0.71 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Acumen and Greenwich is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding Acumen Pharmaceuticals and Greenwich Lifesciences in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Greenwich Lifesciences and Acumen Pharmaceuticals 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 Acumen Pharmaceuticals are associated (or correlated) with Greenwich Lifesciences. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Greenwich Lifesciences has no effect on the direction of Acumen Pharmaceuticals i.e., Acumen Pharmaceuticals and Greenwich Lifesciences go up and down completely randomly.
Pair Corralation between Acumen Pharmaceuticals and Greenwich Lifesciences
Given the investment horizon of 90 days Acumen Pharmaceuticals is expected to generate 1.6 times more return on investment than Greenwich Lifesciences. However, Acumen Pharmaceuticals is 1.6 times more volatile than Greenwich Lifesciences. It trades about -0.03 of its potential returns per unit of risk. Greenwich Lifesciences is currently generating about -0.22 per unit of risk. If you would invest 212.00 in Acumen Pharmaceuticals on August 14, 2025 and sell it today you would lose (15.00) from holding Acumen Pharmaceuticals or give up 7.08% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Acumen Pharmaceuticals vs. Greenwich Lifesciences
Performance |
| Timeline |
| Acumen Pharmaceuticals |
| Greenwich Lifesciences |
Acumen Pharmaceuticals and Greenwich Lifesciences Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Acumen Pharmaceuticals and Greenwich Lifesciences
The main advantage of trading using opposite Acumen Pharmaceuticals and Greenwich Lifesciences positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Acumen Pharmaceuticals position performs unexpectedly, Greenwich Lifesciences 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 Greenwich Lifesciences will offset losses from the drop in Greenwich Lifesciences' long position.| Acumen Pharmaceuticals vs. Inovio Pharmaceuticals | Acumen Pharmaceuticals vs. Opus Genetics, | Acumen Pharmaceuticals vs. Agenus Inc | Acumen Pharmaceuticals vs. Alector |
| Greenwich Lifesciences vs. Cognition Therapeutics | Greenwich Lifesciences vs. Atossa Genetics | Greenwich Lifesciences vs. Tevogen Bio Holdings | Greenwich Lifesciences vs. Oncolytics Biotech |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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