Correlation Between Apyx Medical and Biote Corp
Can any of the company-specific risk be diversified away by investing in both Apyx Medical and Biote Corp 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 Apyx Medical and Biote Corp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Apyx Medical and biote Corp, you can compare the effects of market volatilities on Apyx Medical and Biote Corp 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 Apyx Medical with a short position of Biote Corp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Apyx Medical and Biote Corp.
Diversification Opportunities for Apyx Medical and Biote Corp
-0.8 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Apyx and Biote is -0.8. Overlapping area represents the amount of risk that can be diversified away by holding Apyx Medical and biote Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on biote Corp and Apyx Medical 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 Apyx Medical are associated (or correlated) with Biote Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of biote Corp has no effect on the direction of Apyx Medical i.e., Apyx Medical and Biote Corp go up and down completely randomly.
Pair Corralation between Apyx Medical and Biote Corp
Given the investment horizon of 90 days Apyx Medical is expected to generate 1.86 times more return on investment than Biote Corp. However, Apyx Medical is 1.86 times more volatile than biote Corp. It trades about 0.22 of its potential returns per unit of risk. biote Corp is currently generating about -0.06 per unit of risk. If you would invest 197.00 in Apyx Medical on August 19, 2025 and sell it today you would earn a total of 206.00 from holding Apyx Medical or generate 104.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Apyx Medical vs. biote Corp
Performance |
| Timeline |
| Apyx Medical |
| biote Corp |
Apyx Medical and Biote Corp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Apyx Medical and Biote Corp
The main advantage of trading using opposite Apyx Medical and Biote Corp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Apyx Medical position performs unexpectedly, Biote Corp 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 Biote Corp will offset losses from the drop in Biote Corp's long position.| Apyx Medical vs. Quipt Home Medical | Apyx Medical vs. Rapid Micro Biosystems | Apyx Medical vs. Avita Medical | Apyx Medical vs. Lucid Diagnostics |
| Biote Corp vs. The Joint Corp | Biote Corp vs. Inovio Pharmaceuticals | Biote Corp vs. Spero Therapeutics | Biote Corp vs. Acumen Pharmaceuticals |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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