Correlation Between Nuwellis and OpGen
Can any of the company-specific risk be diversified away by investing in both Nuwellis and OpGen 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 Nuwellis and OpGen into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Nuwellis and OpGen Inc, you can compare the effects of market volatilities on Nuwellis and OpGen 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 Nuwellis with a short position of OpGen. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nuwellis and OpGen.
Diversification Opportunities for Nuwellis and OpGen
Pay attention - limited upside
The 3 months correlation between Nuwellis and OpGen is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Nuwellis and OpGen Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on OpGen Inc and Nuwellis 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 Nuwellis are associated (or correlated) with OpGen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OpGen Inc has no effect on the direction of Nuwellis i.e., Nuwellis and OpGen go up and down completely randomly.
Pair Corralation between Nuwellis and OpGen
If you would invest (100.00) in OpGen Inc on June 6, 2025 and sell it today you would earn a total of 100.00 from holding OpGen Inc or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Nuwellis vs. OpGen Inc
Performance |
| Timeline |
| Nuwellis |
| OpGen Inc |
Risk-Adjusted Performance
Weakest
Weak | Strong |
Nuwellis and OpGen Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nuwellis and OpGen
The main advantage of trading using opposite Nuwellis and OpGen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nuwellis position performs unexpectedly, OpGen 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 OpGen will offset losses from the drop in OpGen's long position.| Nuwellis vs. SINTX Technologies | Nuwellis vs. Bone Biologics Corp | Nuwellis vs. Tivic Health Systems | Nuwellis vs. Palisade Bio |
| OpGen vs. Heart Test Laboratories | OpGen vs. NanoVibronix | OpGen vs. Rapid Micro Biosystems | OpGen vs. Biomerica |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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