Correlation Between Bausch Lomb and Vivos Therapeutics
Can any of the company-specific risk be diversified away by investing in both Bausch Lomb and Vivos Therapeutics 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 Bausch Lomb and Vivos Therapeutics into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bausch Lomb Corp and Vivos Therapeutics, you can compare the effects of market volatilities on Bausch Lomb and Vivos Therapeutics 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 Bausch Lomb with a short position of Vivos Therapeutics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bausch Lomb and Vivos Therapeutics.
Diversification Opportunities for Bausch Lomb and Vivos Therapeutics
-0.76 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bausch and Vivos is -0.76. Overlapping area represents the amount of risk that can be diversified away by holding Bausch Lomb Corp and Vivos Therapeutics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vivos Therapeutics and Bausch Lomb 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 Bausch Lomb Corp are associated (or correlated) with Vivos Therapeutics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vivos Therapeutics has no effect on the direction of Bausch Lomb i.e., Bausch Lomb and Vivos Therapeutics go up and down completely randomly.
Pair Corralation between Bausch Lomb and Vivos Therapeutics
Assuming the 90 days trading horizon Bausch Lomb Corp is expected to generate 0.41 times more return on investment than Vivos Therapeutics. However, Bausch Lomb Corp is 2.43 times less risky than Vivos Therapeutics. It trades about 0.05 of its potential returns per unit of risk. Vivos Therapeutics is currently generating about -0.17 per unit of risk. If you would invest 1,903 in Bausch Lomb Corp on July 16, 2025 and sell it today you would earn a total of 109.00 from holding Bausch Lomb Corp or generate 5.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 96.88% |
| Values | Daily Returns |
Bausch Lomb Corp vs. Vivos Therapeutics
Performance |
| Timeline |
| Bausch Lomb Corp |
| Vivos Therapeutics |
Bausch Lomb and Vivos Therapeutics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bausch Lomb and Vivos Therapeutics
The main advantage of trading using opposite Bausch Lomb and Vivos Therapeutics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bausch Lomb position performs unexpectedly, Vivos Therapeutics 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 Vivos Therapeutics will offset losses from the drop in Vivos Therapeutics' long position.| Bausch Lomb vs. Merit Medical Systems | Bausch Lomb vs. Water Ways Technologies | Bausch Lomb vs. iShares Canadian HYBrid | Bausch Lomb vs. European Residential Real |
| Vivos Therapeutics vs. Bone Biologics Corp | Vivos Therapeutics vs. Tivic Health Systems | Vivos Therapeutics vs. Bluejay Diagnostics | Vivos Therapeutics vs. Rapid Micro Biosystems |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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