Correlation Between Moderna and Viatris
Can any of the company-specific risk be diversified away by investing in both Moderna and Viatris 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 Moderna and Viatris into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Moderna and Viatris, you can compare the effects of market volatilities on Moderna and Viatris 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 Moderna with a short position of Viatris. Check out your portfolio center. Please also check ongoing floating volatility patterns of Moderna and Viatris.
Diversification Opportunities for Moderna and Viatris
Good diversification
The 3 months correlation between Moderna and Viatris is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding Moderna and Viatris in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Viatris and Moderna 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 Moderna are associated (or correlated) with Viatris. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Viatris has no effect on the direction of Moderna i.e., Moderna and Viatris go up and down completely randomly.
Pair Corralation between Moderna and Viatris
Given the investment horizon of 90 days Moderna is expected to generate 1.85 times more return on investment than Viatris. However, Moderna is 1.85 times more volatile than Viatris. It trades about 0.02 of its potential returns per unit of risk. Viatris is currently generating about 0.03 per unit of risk. If you would invest 2,447 in Moderna on August 28, 2025 and sell it today you would earn a total of 28.00 from holding Moderna or generate 1.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Moderna vs. Viatris
Performance |
| Timeline |
| Moderna |
| Viatris |
Moderna and Viatris Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Moderna and Viatris
The main advantage of trading using opposite Moderna and Viatris positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Moderna position performs unexpectedly, Viatris 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 Viatris will offset losses from the drop in Viatris' long position.| Moderna vs. Video Display | Moderna vs. Columbia Sportswear | Moderna vs. Westinghouse Air Brake | Moderna vs. Cleanaway Waste Management |
| Viatris vs. Shanghai Fudan Microelectronics | Viatris vs. The Dewey Electronics | Viatris vs. Genesis Electronics Group | Viatris vs. Renesas Electronics |
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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