Correlation Between Imagion Biosystems and Genesis Electronics
Can any of the company-specific risk be diversified away by investing in both Imagion Biosystems and Genesis Electronics 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 Imagion Biosystems and Genesis Electronics into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Imagion Biosystems Limited and Genesis Electronics Group, you can compare the effects of market volatilities on Imagion Biosystems and Genesis Electronics 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 Imagion Biosystems with a short position of Genesis Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Imagion Biosystems and Genesis Electronics.
Diversification Opportunities for Imagion Biosystems and Genesis Electronics
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Imagion and Genesis is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Imagion Biosystems Limited and Genesis Electronics Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Genesis Electronics and Imagion Biosystems 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 Imagion Biosystems Limited are associated (or correlated) with Genesis Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Genesis Electronics has no effect on the direction of Imagion Biosystems i.e., Imagion Biosystems and Genesis Electronics go up and down completely randomly.
Pair Corralation between Imagion Biosystems and Genesis Electronics
If you would invest 1.50 in Imagion Biosystems Limited on September 1, 2025 and sell it today you would lose (0.50) from holding Imagion Biosystems Limited or give up 33.33% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 96.97% |
| Values | Daily Returns |
Imagion Biosystems Limited vs. Genesis Electronics Group
Performance |
| Timeline |
| Imagion Biosystems |
| Genesis Electronics |
Imagion Biosystems and Genesis Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Imagion Biosystems and Genesis Electronics
The main advantage of trading using opposite Imagion Biosystems and Genesis Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Imagion Biosystems position performs unexpectedly, Genesis Electronics 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 Genesis Electronics will offset losses from the drop in Genesis Electronics' long position.| Imagion Biosystems vs. Logansport Financial Corp | Imagion Biosystems vs. Mineral Mountain Mining | Imagion Biosystems vs. Zhaojin Mining Industry | Imagion Biosystems vs. JD Sports Fashion |
| Genesis Electronics vs. Prosperity Real Estate | Genesis Electronics vs. Guangdong Investment Limited | Genesis Electronics vs. NXP Semiconductors NV | Genesis Electronics vs. Regal Real Estate |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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