Correlation Between OmniAb and AIM ImmunoTech
Can any of the company-specific risk be diversified away by investing in both OmniAb and AIM ImmunoTech 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 OmniAb and AIM ImmunoTech into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between OmniAb Inc and AIM ImmunoTech, you can compare the effects of market volatilities on OmniAb and AIM ImmunoTech 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 OmniAb with a short position of AIM ImmunoTech. Check out your portfolio center. Please also check ongoing floating volatility patterns of OmniAb and AIM ImmunoTech.
Diversification Opportunities for OmniAb and AIM ImmunoTech
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between OmniAb and AIM is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding OmniAb Inc and AIM ImmunoTech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AIM ImmunoTech and OmniAb 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 OmniAb Inc are associated (or correlated) with AIM ImmunoTech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AIM ImmunoTech has no effect on the direction of OmniAb i.e., OmniAb and AIM ImmunoTech go up and down completely randomly.
Pair Corralation between OmniAb and AIM ImmunoTech
Given the investment horizon of 90 days OmniAb Inc is expected to generate 0.72 times more return on investment than AIM ImmunoTech. However, OmniAb Inc is 1.38 times less risky than AIM ImmunoTech. It trades about 0.05 of its potential returns per unit of risk. AIM ImmunoTech is currently generating about -0.14 per unit of risk. If you would invest 160.00 in OmniAb Inc on September 4, 2025 and sell it today you would earn a total of 11.00 from holding OmniAb Inc or generate 6.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
OmniAb Inc vs. AIM ImmunoTech
Performance |
| Timeline |
| OmniAb Inc |
| AIM ImmunoTech |
OmniAb and AIM ImmunoTech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with OmniAb and AIM ImmunoTech
The main advantage of trading using opposite OmniAb and AIM ImmunoTech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if OmniAb position performs unexpectedly, AIM ImmunoTech 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 AIM ImmunoTech will offset losses from the drop in AIM ImmunoTech's long position.| OmniAb vs. Road King Infrastructure | OmniAb vs. Bebida Beverage Co | OmniAb vs. Strainsforpains | OmniAb vs. Knight Transportation |
| AIM ImmunoTech vs. DATA Communications Management | AIM ImmunoTech vs. Data3 Limited | AIM ImmunoTech vs. Pure Storage | AIM ImmunoTech vs. Caribbean Utilities |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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