Correlation Between Frequency Therapeutics and Genelux Common
Can any of the company-specific risk be diversified away by investing in both Frequency Therapeutics and Genelux Common 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 Frequency Therapeutics and Genelux Common into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Frequency Therapeutics and Genelux Common, you can compare the effects of market volatilities on Frequency Therapeutics and Genelux Common 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 Frequency Therapeutics with a short position of Genelux Common. Check out your portfolio center. Please also check ongoing floating volatility patterns of Frequency Therapeutics and Genelux Common.
Diversification Opportunities for Frequency Therapeutics and Genelux Common
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Frequency and Genelux is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Frequency Therapeutics and Genelux Common in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Genelux Common and Frequency 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 Frequency Therapeutics are associated (or correlated) with Genelux Common. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Genelux Common has no effect on the direction of Frequency Therapeutics i.e., Frequency Therapeutics and Genelux Common go up and down completely randomly.
Pair Corralation between Frequency Therapeutics and Genelux Common
Given the investment horizon of 90 days Frequency Therapeutics is expected to under-perform the Genelux Common. In addition to that, Frequency Therapeutics is 1.79 times more volatile than Genelux Common. It trades about -0.29 of its total potential returns per unit of risk. Genelux Common is currently generating about 0.02 per unit of volatility. If you would invest 572.00 in Genelux Common on August 18, 2025 and sell it today you would lose (40.00) from holding Genelux Common or give up 6.99% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Frequency Therapeutics vs. Genelux Common
Performance |
| Timeline |
| Frequency Therapeutics |
| Genelux Common |
Frequency Therapeutics and Genelux Common Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Frequency Therapeutics and Genelux Common
The main advantage of trading using opposite Frequency Therapeutics and Genelux Common positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Frequency Therapeutics position performs unexpectedly, Genelux Common 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 Genelux Common will offset losses from the drop in Genelux Common's long position.| Frequency Therapeutics vs. enGene Holdings Common | Frequency Therapeutics vs. Altimmune | Frequency Therapeutics vs. Annexon | Frequency Therapeutics vs. DBV Technologies |
| Genelux Common vs. Aldeyra | Genelux Common vs. Silence Therapeutics PLC | Genelux Common vs. Alpha Tau Medical | Genelux Common vs. Candel 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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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