Correlation Between Pasithea Therapeutics and EnGene Holdings
Can any of the company-specific risk be diversified away by investing in both Pasithea Therapeutics and EnGene Holdings 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 Pasithea Therapeutics and EnGene Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Pasithea Therapeutics Corp and enGene Holdings Common, you can compare the effects of market volatilities on Pasithea Therapeutics and EnGene Holdings 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 Pasithea Therapeutics with a short position of EnGene Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Pasithea Therapeutics and EnGene Holdings.
Diversification Opportunities for Pasithea Therapeutics and EnGene Holdings
0.1 | Correlation Coefficient |
Average diversification
The 3 months correlation between Pasithea and EnGene is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding Pasithea Therapeutics Corp and enGene Holdings Common in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on enGene Holdings Common and Pasithea 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 Pasithea Therapeutics Corp are associated (or correlated) with EnGene Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of enGene Holdings Common has no effect on the direction of Pasithea Therapeutics i.e., Pasithea Therapeutics and EnGene Holdings go up and down completely randomly.
Pair Corralation between Pasithea Therapeutics and EnGene Holdings
Assuming the 90 days horizon Pasithea Therapeutics Corp is expected to generate 3.75 times more return on investment than EnGene Holdings. However, Pasithea Therapeutics is 3.75 times more volatile than enGene Holdings Common. It trades about 0.21 of its potential returns per unit of risk. enGene Holdings Common is currently generating about 0.09 per unit of risk. If you would invest 1.37 in Pasithea Therapeutics Corp on September 11, 2025 and sell it today you would earn a total of 2.98 from holding Pasithea Therapeutics Corp or generate 217.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 52.31% |
| Values | Daily Returns |
Pasithea Therapeutics Corp vs. enGene Holdings Common
Performance |
| Timeline |
| Pasithea Therapeutics |
| enGene Holdings Common |
Pasithea Therapeutics and EnGene Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Pasithea Therapeutics and EnGene Holdings
The main advantage of trading using opposite Pasithea Therapeutics and EnGene Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Pasithea Therapeutics position performs unexpectedly, EnGene Holdings 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 EnGene Holdings will offset losses from the drop in EnGene Holdings' long position.| Pasithea Therapeutics vs. Coeptis Therapeutics | Pasithea Therapeutics vs. NKGen Biotech, Common | Pasithea Therapeutics vs. Syros Pharmaceuticals | Pasithea Therapeutics vs. Virpax Pharmaceuticals |
| EnGene Holdings vs. Amarin PLC | EnGene Holdings vs. Altimmune | EnGene Holdings vs. Frequency Therapeutics | EnGene Holdings vs. DBV Technologies |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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