Correlation Between Capricor Therapeutics and HTG Molecular
Can any of the company-specific risk be diversified away by investing in both Capricor Therapeutics and HTG Molecular 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 Capricor Therapeutics and HTG Molecular into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Capricor Therapeutics and HTG Molecular Diagnostics, you can compare the effects of market volatilities on Capricor Therapeutics and HTG Molecular 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 Capricor Therapeutics with a short position of HTG Molecular. Check out your portfolio center. Please also check ongoing floating volatility patterns of Capricor Therapeutics and HTG Molecular.
Diversification Opportunities for Capricor Therapeutics and HTG Molecular
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Capricor and HTG is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Capricor Therapeutics and HTG Molecular Diagnostics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HTG Molecular Diagnostics and Capricor 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 Capricor Therapeutics are associated (or correlated) with HTG Molecular. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HTG Molecular Diagnostics has no effect on the direction of Capricor Therapeutics i.e., Capricor Therapeutics and HTG Molecular go up and down completely randomly.
Pair Corralation between Capricor Therapeutics and HTG Molecular
If you would invest 648.00 in Capricor Therapeutics on July 24, 2025 and sell it today you would lose (11.00) from holding Capricor Therapeutics or give up 1.7% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.44% |
| Values | Daily Returns |
Capricor Therapeutics vs. HTG Molecular Diagnostics
Performance |
| Timeline |
| Capricor Therapeutics |
| HTG Molecular Diagnostics |
Capricor Therapeutics and HTG Molecular Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Capricor Therapeutics and HTG Molecular
The main advantage of trading using opposite Capricor Therapeutics and HTG Molecular positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Capricor Therapeutics position performs unexpectedly, HTG Molecular 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 HTG Molecular will offset losses from the drop in HTG Molecular's long position.| Capricor Therapeutics vs. AC Immune | Capricor Therapeutics vs. Vanda Pharmaceuticals | Capricor Therapeutics vs. Alector | Capricor Therapeutics vs. Mereo BioPharma Group |
| HTG Molecular vs. Biocept | HTG Molecular vs. BC Craft Supply | HTG Molecular vs. Clever Leaves Holdings | HTG Molecular vs. Verde Science |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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