Correlation Between CanSino Biologics and PEPTONIC MEDICAL
Can any of the company-specific risk be diversified away by investing in both CanSino Biologics and PEPTONIC MEDICAL 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 CanSino Biologics and PEPTONIC MEDICAL into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CanSino Biologics and PEPTONIC MEDICAL, you can compare the effects of market volatilities on CanSino Biologics and PEPTONIC MEDICAL 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 CanSino Biologics with a short position of PEPTONIC MEDICAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of CanSino Biologics and PEPTONIC MEDICAL.
Diversification Opportunities for CanSino Biologics and PEPTONIC MEDICAL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CanSino and PEPTONIC is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CanSino Biologics and PEPTONIC MEDICAL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PEPTONIC MEDICAL and CanSino Biologics 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 CanSino Biologics are associated (or correlated) with PEPTONIC MEDICAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PEPTONIC MEDICAL has no effect on the direction of CanSino Biologics i.e., CanSino Biologics and PEPTONIC MEDICAL go up and down completely randomly.
Pair Corralation between CanSino Biologics and PEPTONIC MEDICAL
If you would invest 0.02 in PEPTONIC MEDICAL on September 5, 2025 and sell it today you would earn a total of 0.00 from holding PEPTONIC MEDICAL or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CanSino Biologics vs. PEPTONIC MEDICAL
Performance |
| Timeline |
| CanSino Biologics |
| PEPTONIC MEDICAL |
CanSino Biologics and PEPTONIC MEDICAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CanSino Biologics and PEPTONIC MEDICAL
The main advantage of trading using opposite CanSino Biologics and PEPTONIC MEDICAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CanSino Biologics position performs unexpectedly, PEPTONIC MEDICAL 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 PEPTONIC MEDICAL will offset losses from the drop in PEPTONIC MEDICAL's long position.| CanSino Biologics vs. Magnachip Semiconductor | CanSino Biologics vs. ON SEMICONDUCTOR | CanSino Biologics vs. KENNAMETAL INC | CanSino Biologics vs. Stag Industrial |
| PEPTONIC MEDICAL vs. THRACE PLASTICS | PEPTONIC MEDICAL vs. Wenzhou Kangning Hospital | PEPTONIC MEDICAL vs. SHIP HEALTHCARE HLDGINC | PEPTONIC MEDICAL vs. VULCAN MATERIALS |
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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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