Correlation Between Immunocore Holdings and Molecular Partners
Can any of the company-specific risk be diversified away by investing in both Immunocore Holdings and Molecular Partners 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 Immunocore Holdings and Molecular Partners into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Immunocore Holdings and Molecular Partners AG, you can compare the effects of market volatilities on Immunocore Holdings and Molecular Partners 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 Immunocore Holdings with a short position of Molecular Partners. Check out your portfolio center. Please also check ongoing floating volatility patterns of Immunocore Holdings and Molecular Partners.
Diversification Opportunities for Immunocore Holdings and Molecular Partners
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between Immunocore and Molecular is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Immunocore Holdings and Molecular Partners AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Molecular Partners and Immunocore Holdings 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 Immunocore Holdings are associated (or correlated) with Molecular Partners. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Molecular Partners has no effect on the direction of Immunocore Holdings i.e., Immunocore Holdings and Molecular Partners go up and down completely randomly.
Pair Corralation between Immunocore Holdings and Molecular Partners
Given the investment horizon of 90 days Immunocore Holdings is expected to generate 0.55 times more return on investment than Molecular Partners. However, Immunocore Holdings is 1.81 times less risky than Molecular Partners. It trades about 0.03 of its potential returns per unit of risk. Molecular Partners AG is currently generating about 0.01 per unit of risk. If you would invest 3,563 in Immunocore Holdings on June 12, 2025 and sell it today you would earn a total of 78.00 from holding Immunocore Holdings or generate 2.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Immunocore Holdings vs. Molecular Partners AG
Performance |
| Timeline |
| Immunocore Holdings |
| Molecular Partners |
Immunocore Holdings and Molecular Partners Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Immunocore Holdings and Molecular Partners
The main advantage of trading using opposite Immunocore Holdings and Molecular Partners positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Immunocore Holdings position performs unexpectedly, Molecular Partners 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 Molecular Partners will offset losses from the drop in Molecular Partners' long position.| Immunocore Holdings vs. Nuvalent | Immunocore Holdings vs. Ventyx Biosciences | Immunocore Holdings vs. Arcellx | Immunocore Holdings vs. Cullinan Oncology LLC |
| Molecular Partners vs. Agilent Technologies | Molecular Partners vs. Equillium | Molecular Partners vs. KING PHARMACEUTICALS INC | Molecular Partners vs. DiaMedica Therapeutics |
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 CEOs Directory module to screen CEOs from public companies around the world.
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