Correlation Between LENSAR and Citius Oncology,
Can any of the company-specific risk be diversified away by investing in both LENSAR and Citius Oncology, 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 LENSAR and Citius Oncology, into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between LENSAR Inc and Citius Oncology,, you can compare the effects of market volatilities on LENSAR and Citius Oncology, 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 LENSAR with a short position of Citius Oncology,. Check out your portfolio center. Please also check ongoing floating volatility patterns of LENSAR and Citius Oncology,.
Diversification Opportunities for LENSAR and Citius Oncology,
0.68 | Correlation Coefficient |
Poor diversification
The 3 months correlation between LENSAR and Citius is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding LENSAR Inc and Citius Oncology, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Citius Oncology, and LENSAR 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 LENSAR Inc are associated (or correlated) with Citius Oncology,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Citius Oncology, has no effect on the direction of LENSAR i.e., LENSAR and Citius Oncology, go up and down completely randomly.
Pair Corralation between LENSAR and Citius Oncology,
Given the investment horizon of 90 days LENSAR Inc is expected to generate 0.6 times more return on investment than Citius Oncology,. However, LENSAR Inc is 1.68 times less risky than Citius Oncology,. It trades about -0.14 of its potential returns per unit of risk. Citius Oncology, is currently generating about -0.11 per unit of risk. If you would invest 1,250 in LENSAR Inc on August 19, 2025 and sell it today you would lose (239.00) from holding LENSAR Inc or give up 19.12% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
LENSAR Inc vs. Citius Oncology,
Performance |
| Timeline |
| LENSAR Inc |
| Citius Oncology, |
LENSAR and Citius Oncology, Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LENSAR and Citius Oncology,
The main advantage of trading using opposite LENSAR and Citius Oncology, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LENSAR position performs unexpectedly, Citius Oncology, 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 Citius Oncology, will offset losses from the drop in Citius Oncology,'s long position.| LENSAR vs. Owlet Inc | LENSAR vs. Anteris Technologies Global | LENSAR vs. MaxCyte | LENSAR vs. Profound Medical Corp |
| Citius Oncology, vs. Scilex Holding | Citius Oncology, vs. Actuate Therapeutics, Common | Citius Oncology, vs. Forte Biosciences | Citius Oncology, vs. Spero 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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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