Correlation Between Stereotaxis and Intuitive Surgical
Can any of the company-specific risk be diversified away by investing in both Stereotaxis and Intuitive Surgical 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 Stereotaxis and Intuitive Surgical into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Stereotaxis and Intuitive Surgical, you can compare the effects of market volatilities on Stereotaxis and Intuitive Surgical 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 Stereotaxis with a short position of Intuitive Surgical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Stereotaxis and Intuitive Surgical.
Diversification Opportunities for Stereotaxis and Intuitive Surgical
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Stereotaxis and Intuitive is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding Stereotaxis and Intuitive Surgical in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intuitive Surgical and Stereotaxis 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 Stereotaxis are associated (or correlated) with Intuitive Surgical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intuitive Surgical has no effect on the direction of Stereotaxis i.e., Stereotaxis and Intuitive Surgical go up and down completely randomly.
Pair Corralation between Stereotaxis and Intuitive Surgical
Given the investment horizon of 90 days Stereotaxis is expected to generate 2.55 times more return on investment than Intuitive Surgical. However, Stereotaxis is 2.55 times more volatile than Intuitive Surgical. It trades about 0.13 of its potential returns per unit of risk. Intuitive Surgical is currently generating about -0.13 per unit of risk. If you would invest 223.00 in Stereotaxis on July 20, 2025 and sell it today you would earn a total of 76.00 from holding Stereotaxis or generate 34.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Stereotaxis vs. Intuitive Surgical
Performance |
| Timeline |
| Stereotaxis |
| Intuitive Surgical |
Stereotaxis and Intuitive Surgical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Stereotaxis and Intuitive Surgical
The main advantage of trading using opposite Stereotaxis and Intuitive Surgical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Stereotaxis position performs unexpectedly, Intuitive Surgical 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 Intuitive Surgical will offset losses from the drop in Intuitive Surgical's long position.| Stereotaxis vs. Sanara Medtech | Stereotaxis vs. Nano X Imaging | Stereotaxis vs. Exagen Inc | Stereotaxis vs. SANUWAVE Health, Common |
| Intuitive Surgical vs. Repligen | Intuitive Surgical vs. ResMed Inc | Intuitive Surgical vs. Merit Medical Systems | Intuitive Surgical vs. ICU Medical |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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