Correlation Between Atossa Genetics and Sharps Technology
Can any of the company-specific risk be diversified away by investing in both Atossa Genetics and Sharps Technology 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 Atossa Genetics and Sharps Technology into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Atossa Genetics and Sharps Technology, you can compare the effects of market volatilities on Atossa Genetics and Sharps Technology 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 Atossa Genetics with a short position of Sharps Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atossa Genetics and Sharps Technology.
Diversification Opportunities for Atossa Genetics and Sharps Technology
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Atossa and Sharps is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Atossa Genetics and Sharps Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sharps Technology and Atossa Genetics 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 Atossa Genetics are associated (or correlated) with Sharps Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sharps Technology has no effect on the direction of Atossa Genetics i.e., Atossa Genetics and Sharps Technology go up and down completely randomly.
Pair Corralation between Atossa Genetics and Sharps Technology
Given the investment horizon of 90 days Atossa Genetics is expected to generate 0.57 times more return on investment than Sharps Technology. However, Atossa Genetics is 1.74 times less risky than Sharps Technology. It trades about 0.03 of its potential returns per unit of risk. Sharps Technology is currently generating about -0.42 per unit of risk. If you would invest 75.00 in Atossa Genetics on August 28, 2025 and sell it today you would earn a total of 2.00 from holding Atossa Genetics or generate 2.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Atossa Genetics vs. Sharps Technology
Performance |
| Timeline |
| Atossa Genetics |
| Sharps Technology |
Atossa Genetics and Sharps Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atossa Genetics and Sharps Technology
The main advantage of trading using opposite Atossa Genetics and Sharps Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atossa Genetics position performs unexpectedly, Sharps Technology 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 Sharps Technology will offset losses from the drop in Sharps Technology's long position.| Atossa Genetics vs. Bangkok Dusit Medical | Atossa Genetics vs. American Medical Technologies | Atossa Genetics vs. Costco Wholesale Corp | Atossa Genetics vs. Profound Medical Corp |
| Sharps Technology vs. Avistar Communications Corp | Sharps Technology vs. Good Times Restaurants | Sharps Technology vs. Darden Restaurants | Sharps Technology vs. Hutchison Telecommunications Hong |
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 CEOs Directory module to screen CEOs from public companies around the world.
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