Correlation Between Microbot Medical and Sera Prognostics
Can any of the company-specific risk be diversified away by investing in both Microbot Medical and Sera Prognostics 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 Microbot Medical and Sera Prognostics into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Microbot Medical and Sera Prognostics, you can compare the effects of market volatilities on Microbot Medical and Sera Prognostics 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 Microbot Medical with a short position of Sera Prognostics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Microbot Medical and Sera Prognostics.
Diversification Opportunities for Microbot Medical and Sera Prognostics
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Microbot and Sera is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Microbot Medical and Sera Prognostics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sera Prognostics and Microbot Medical 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 Microbot Medical are associated (or correlated) with Sera Prognostics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sera Prognostics has no effect on the direction of Microbot Medical i.e., Microbot Medical and Sera Prognostics go up and down completely randomly.
Pair Corralation between Microbot Medical and Sera Prognostics
Given the investment horizon of 90 days Microbot Medical is expected to generate 1.0 times more return on investment than Sera Prognostics. However, Microbot Medical is 1.0 times less risky than Sera Prognostics. It trades about 0.07 of its potential returns per unit of risk. Sera Prognostics is currently generating about 0.0 per unit of risk. If you would invest 100.00 in Microbot Medical on September 21, 2025 and sell it today you would earn a total of 108.00 from holding Microbot Medical or generate 108.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Microbot Medical vs. Sera Prognostics
Performance |
| Timeline |
| Microbot Medical |
| Sera Prognostics |
Microbot Medical and Sera Prognostics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Microbot Medical and Sera Prognostics
The main advantage of trading using opposite Microbot Medical and Sera Prognostics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Microbot Medical position performs unexpectedly, Sera Prognostics 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 Sera Prognostics will offset losses from the drop in Sera Prognostics' long position.| Microbot Medical vs. Vivani Medical | Microbot Medical vs. InspireMD | Microbot Medical vs. Oramed Pharmaceuticals | Microbot Medical vs. Context Therapeutics |
| Sera Prognostics vs. Rapid Micro Biosystems | Sera Prognostics vs. Sharps Technology | Sera Prognostics vs. Tevogen Bio Holdings | Sera Prognostics vs. Cognition 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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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