Correlation Between Dyne Therapeutics and Oscar Health
Can any of the company-specific risk be diversified away by investing in both Dyne Therapeutics and Oscar Health 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 Dyne Therapeutics and Oscar Health into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Dyne Therapeutics and Oscar Health, you can compare the effects of market volatilities on Dyne Therapeutics and Oscar Health 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 Dyne Therapeutics with a short position of Oscar Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dyne Therapeutics and Oscar Health.
Diversification Opportunities for Dyne Therapeutics and Oscar Health
-0.51 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Dyne and Oscar is -0.51. Overlapping area represents the amount of risk that can be diversified away by holding Dyne Therapeutics and Oscar Health in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oscar Health and Dyne 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 Dyne Therapeutics are associated (or correlated) with Oscar Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oscar Health has no effect on the direction of Dyne Therapeutics i.e., Dyne Therapeutics and Oscar Health go up and down completely randomly.
Pair Corralation between Dyne Therapeutics and Oscar Health
Considering the 90-day investment horizon Dyne Therapeutics is expected to generate 1.3 times more return on investment than Oscar Health. However, Dyne Therapeutics is 1.3 times more volatile than Oscar Health. It trades about 0.08 of its potential returns per unit of risk. Oscar Health is currently generating about -0.04 per unit of risk. If you would invest 1,468 in Dyne Therapeutics on October 9, 2025 and sell it today you would earn a total of 344.00 from holding Dyne Therapeutics or generate 23.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dyne Therapeutics vs. Oscar Health
Performance |
| Timeline |
| Dyne Therapeutics |
| Oscar Health |
Dyne Therapeutics and Oscar Health Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dyne Therapeutics and Oscar Health
The main advantage of trading using opposite Dyne Therapeutics and Oscar Health positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dyne Therapeutics position performs unexpectedly, Oscar Health 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 Oscar Health will offset losses from the drop in Oscar Health's long position.| Dyne Therapeutics vs. Ultragenyx | Dyne Therapeutics vs. Soleno Therapeutics | Dyne Therapeutics vs. Centessa Pharmaceuticals PLC | Dyne Therapeutics vs. Xenon Pharmaceuticals |
| Oscar Health vs. Arcellx | Oscar Health vs. NewAmsterdam Pharma | Oscar Health vs. Hinge Health | Oscar Health vs. Alignment Healthcare LLC |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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