Correlation Between Borr Drilling and AIM ImmunoTech
Can any of the company-specific risk be diversified away by investing in both Borr Drilling and AIM ImmunoTech 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 Borr Drilling and AIM ImmunoTech into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Borr Drilling and AIM ImmunoTech, you can compare the effects of market volatilities on Borr Drilling and AIM ImmunoTech 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 Borr Drilling with a short position of AIM ImmunoTech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Borr Drilling and AIM ImmunoTech.
Diversification Opportunities for Borr Drilling and AIM ImmunoTech
-0.63 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Borr and AIM is -0.63. Overlapping area represents the amount of risk that can be diversified away by holding Borr Drilling and AIM ImmunoTech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AIM ImmunoTech and Borr Drilling 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 Borr Drilling are associated (or correlated) with AIM ImmunoTech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AIM ImmunoTech has no effect on the direction of Borr Drilling i.e., Borr Drilling and AIM ImmunoTech go up and down completely randomly.
Pair Corralation between Borr Drilling and AIM ImmunoTech
Given the investment horizon of 90 days Borr Drilling is expected to generate 0.73 times more return on investment than AIM ImmunoTech. However, Borr Drilling is 1.37 times less risky than AIM ImmunoTech. It trades about 0.09 of its potential returns per unit of risk. AIM ImmunoTech is currently generating about -0.12 per unit of risk. If you would invest 276.00 in Borr Drilling on September 2, 2025 and sell it today you would earn a total of 55.00 from holding Borr Drilling or generate 19.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Borr Drilling vs. AIM ImmunoTech
Performance |
| Timeline |
| Borr Drilling |
| AIM ImmunoTech |
Borr Drilling and AIM ImmunoTech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Borr Drilling and AIM ImmunoTech
The main advantage of trading using opposite Borr Drilling and AIM ImmunoTech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Borr Drilling position performs unexpectedly, AIM ImmunoTech 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 AIM ImmunoTech will offset losses from the drop in AIM ImmunoTech's long position.| Borr Drilling vs. Choice Hotels International | Borr Drilling vs. Costco Wholesale Corp | Borr Drilling vs. Host Hotels Resorts | Borr Drilling vs. Pebblebrook Hotel Trust |
| AIM ImmunoTech vs. Consolidated Sports Media | AIM ImmunoTech vs. SIGNA Sports United | AIM ImmunoTech vs. Signature Leisure | AIM ImmunoTech vs. LATAM Airlines Group |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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