Correlation Between Aptevo Therapeutics and Helios Technologies
Can any of the company-specific risk be diversified away by investing in both Aptevo Therapeutics and Helios Technologies 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 Aptevo Therapeutics and Helios Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aptevo Therapeutics and Helios Technologies, you can compare the effects of market volatilities on Aptevo Therapeutics and Helios Technologies 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 Aptevo Therapeutics with a short position of Helios Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aptevo Therapeutics and Helios Technologies.
Diversification Opportunities for Aptevo Therapeutics and Helios Technologies
-0.89 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Aptevo and Helios is -0.89. Overlapping area represents the amount of risk that can be diversified away by holding Aptevo Therapeutics and Helios Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Helios Technologies and Aptevo Therapeutics 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 Aptevo Therapeutics are associated (or correlated) with Helios Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Helios Technologies has no effect on the direction of Aptevo Therapeutics i.e., Aptevo Therapeutics and Helios Technologies go up and down completely randomly.
Pair Corralation between Aptevo Therapeutics and Helios Technologies
Given the investment horizon of 90 days Aptevo Therapeutics is expected to under-perform the Helios Technologies. In addition to that, Aptevo Therapeutics is 1.7 times more volatile than Helios Technologies. It trades about -0.1 of its total potential returns per unit of risk. Helios Technologies is currently generating about 0.16 per unit of volatility. If you would invest 3,584 in Helios Technologies on July 20, 2025 and sell it today you would earn a total of 1,714 from holding Helios Technologies or generate 47.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Aptevo Therapeutics vs. Helios Technologies
Performance |
| Timeline |
| Aptevo Therapeutics |
| Helios Technologies |
Aptevo Therapeutics and Helios Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aptevo Therapeutics and Helios Technologies
The main advantage of trading using opposite Aptevo Therapeutics and Helios Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aptevo Therapeutics position performs unexpectedly, Helios Technologies 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 Helios Technologies will offset losses from the drop in Helios Technologies' long position.| Aptevo Therapeutics vs. Kiora Pharmaceuticals | Aptevo Therapeutics vs. HCW Biologics | Aptevo Therapeutics vs. ABPRO P | Aptevo Therapeutics vs. Matinas BioPharma Holdings |
| Helios Technologies vs. Babcock Wilcox Enterprises | Helios Technologies vs. Tennant Company | Helios Technologies vs. China Yuchai International | Helios Technologies vs. Enovis Corp |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
Other Complementary Tools
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios |