Correlation Between Regeneron Pharmaceuticals and CCSC Technology
Can any of the company-specific risk be diversified away by investing in both Regeneron Pharmaceuticals and CCSC Technology 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 Regeneron Pharmaceuticals and CCSC Technology into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Regeneron Pharmaceuticals and CCSC Technology International, you can compare the effects of market volatilities on Regeneron Pharmaceuticals and CCSC Technology 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 Regeneron Pharmaceuticals with a short position of CCSC Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Regeneron Pharmaceuticals and CCSC Technology.
Diversification Opportunities for Regeneron Pharmaceuticals and CCSC Technology
-0.05 | Correlation Coefficient |
Good diversification
The 3 months correlation between Regeneron and CCSC is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding Regeneron Pharmaceuticals and CCSC Technology International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CCSC Technology Inte and Regeneron Pharmaceuticals 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 Regeneron Pharmaceuticals are associated (or correlated) with CCSC Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CCSC Technology Inte has no effect on the direction of Regeneron Pharmaceuticals i.e., Regeneron Pharmaceuticals and CCSC Technology go up and down completely randomly.
Pair Corralation between Regeneron Pharmaceuticals and CCSC Technology
Given the investment horizon of 90 days Regeneron Pharmaceuticals is expected to generate 1.14 times less return on investment than CCSC Technology. But when comparing it to its historical volatility, Regeneron Pharmaceuticals is 1.7 times less risky than CCSC Technology. It trades about 0.08 of its potential returns per unit of risk. CCSC Technology International is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 107.00 in CCSC Technology International on June 11, 2025 and sell it today you would earn a total of 8.00 from holding CCSC Technology International or generate 7.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Regeneron Pharmaceuticals vs. CCSC Technology International
Performance |
| Timeline |
| Regeneron Pharmaceuticals |
| CCSC Technology Inte |
Regeneron Pharmaceuticals and CCSC Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Regeneron Pharmaceuticals and CCSC Technology
The main advantage of trading using opposite Regeneron Pharmaceuticals and CCSC Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Regeneron Pharmaceuticals position performs unexpectedly, CCSC Technology 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 CCSC Technology will offset losses from the drop in CCSC Technology's long position.The idea behind Regeneron Pharmaceuticals and CCSC Technology International pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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