Correlation Between Intuitive Surgical and Gyre Therapeutics
Can any of the company-specific risk be diversified away by investing in both Intuitive Surgical and Gyre Therapeutics 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 Intuitive Surgical and Gyre Therapeutics into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Intuitive Surgical and Gyre Therapeutics, you can compare the effects of market volatilities on Intuitive Surgical and Gyre Therapeutics 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 Intuitive Surgical with a short position of Gyre Therapeutics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intuitive Surgical and Gyre Therapeutics.
Diversification Opportunities for Intuitive Surgical and Gyre Therapeutics
-0.2 | Correlation Coefficient |
Good diversification
The 3 months correlation between Intuitive and Gyre is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding Intuitive Surgical and Gyre Therapeutics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gyre Therapeutics and Intuitive Surgical 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 Intuitive Surgical are associated (or correlated) with Gyre Therapeutics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gyre Therapeutics has no effect on the direction of Intuitive Surgical i.e., Intuitive Surgical and Gyre Therapeutics go up and down completely randomly.
Pair Corralation between Intuitive Surgical and Gyre Therapeutics
Given the investment horizon of 90 days Intuitive Surgical is expected to under-perform the Gyre Therapeutics. But the stock apears to be less risky and, when comparing its historical volatility, Intuitive Surgical is 2.43 times less risky than Gyre Therapeutics. The stock trades about -0.04 of its potential returns per unit of risk. The Gyre Therapeutics is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 738.00 in Gyre Therapeutics on July 24, 2025 and sell it today you would earn a total of 94.00 from holding Gyre Therapeutics or generate 12.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Intuitive Surgical vs. Gyre Therapeutics
Performance |
| Timeline |
| Intuitive Surgical |
| Gyre Therapeutics |
Intuitive Surgical and Gyre Therapeutics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intuitive Surgical and Gyre Therapeutics
The main advantage of trading using opposite Intuitive Surgical and Gyre Therapeutics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intuitive Surgical position performs unexpectedly, Gyre Therapeutics 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 Gyre Therapeutics will offset losses from the drop in Gyre Therapeutics' long position.| Intuitive Surgical vs. Repligen | Intuitive Surgical vs. ResMed Inc | Intuitive Surgical vs. Merit Medical Systems | Intuitive Surgical vs. ICU Medical |
| Gyre Therapeutics vs. Theravance Biopharma | Gyre Therapeutics vs. Day One Biopharmaceuticals | Gyre Therapeutics vs. Akebia Ther | Gyre Therapeutics vs. Terns Pharmaceuticals |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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