Correlation Between Cambium Bio and Instil Bio
Can any of the company-specific risk be diversified away by investing in both Cambium Bio and Instil Bio 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 Cambium Bio and Instil Bio into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cambium Bio and Instil Bio, you can compare the effects of market volatilities on Cambium Bio and Instil Bio 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 Cambium Bio with a short position of Instil Bio. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cambium Bio and Instil Bio.
Diversification Opportunities for Cambium Bio and Instil Bio
-0.63 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Cambium and Instil is -0.63. Overlapping area represents the amount of risk that can be diversified away by holding Cambium Bio and Instil Bio in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Instil Bio and Cambium Bio 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 Cambium Bio are associated (or correlated) with Instil Bio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Instil Bio has no effect on the direction of Cambium Bio i.e., Cambium Bio and Instil Bio go up and down completely randomly.
Pair Corralation between Cambium Bio and Instil Bio
Assuming the 90 days trading horizon Cambium Bio is expected to generate 0.79 times more return on investment than Instil Bio. However, Cambium Bio is 1.26 times less risky than Instil Bio. It trades about 0.02 of its potential returns per unit of risk. Instil Bio is currently generating about -0.29 per unit of risk. If you would invest 50.00 in Cambium Bio on August 13, 2025 and sell it today you would earn a total of 0.00 from holding Cambium Bio or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Cambium Bio vs. Instil Bio
Performance |
| Timeline |
| Cambium Bio |
| Instil Bio |
Cambium Bio and Instil Bio Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cambium Bio and Instil Bio
The main advantage of trading using opposite Cambium Bio and Instil Bio positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cambium Bio position performs unexpectedly, Instil Bio 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 Instil Bio will offset losses from the drop in Instil Bio's long position.| Cambium Bio vs. Ambertech | Cambium Bio vs. Technology One | Cambium Bio vs. Genetic Technologies | Cambium Bio vs. Macquarie Technology Group |
| Instil Bio vs. Zentalis Pharmaceuticals Llc | Instil Bio vs. Surrozen | Instil Bio vs. Pliant Therapeutics | Instil Bio vs. Oncolytics Biotech |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Other Complementary Tools
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments |