Correlation Between GeneDx Holdings and Elevai Labs
Can any of the company-specific risk be diversified away by investing in both GeneDx Holdings and Elevai Labs 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 GeneDx Holdings and Elevai Labs into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GeneDx Holdings Corp and Elevai Labs Common, you can compare the effects of market volatilities on GeneDx Holdings and Elevai Labs 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 GeneDx Holdings with a short position of Elevai Labs. Check out your portfolio center. Please also check ongoing floating volatility patterns of GeneDx Holdings and Elevai Labs.
Diversification Opportunities for GeneDx Holdings and Elevai Labs
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between GeneDx and Elevai is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding GeneDx Holdings Corp and Elevai Labs Common in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Elevai Labs Common and GeneDx Holdings 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 GeneDx Holdings Corp are associated (or correlated) with Elevai Labs. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Elevai Labs Common has no effect on the direction of GeneDx Holdings i.e., GeneDx Holdings and Elevai Labs go up and down completely randomly.
Pair Corralation between GeneDx Holdings and Elevai Labs
Considering the 90-day investment horizon GeneDx Holdings Corp is expected to generate 0.27 times more return on investment than Elevai Labs. However, GeneDx Holdings Corp is 3.74 times less risky than Elevai Labs. It trades about 0.05 of its potential returns per unit of risk. Elevai Labs Common is currently generating about -0.16 per unit of risk. If you would invest 12,076 in GeneDx Holdings Corp on October 7, 2025 and sell it today you would earn a total of 945.00 from holding GeneDx Holdings Corp or generate 7.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.41% |
| Values | Daily Returns |
GeneDx Holdings Corp vs. Elevai Labs Common
Performance |
| Timeline |
| GeneDx Holdings Corp |
| Elevai Labs Common |
GeneDx Holdings and Elevai Labs Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GeneDx Holdings and Elevai Labs
The main advantage of trading using opposite GeneDx Holdings and Elevai Labs positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GeneDx Holdings position performs unexpectedly, Elevai Labs 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 Elevai Labs will offset losses from the drop in Elevai Labs' long position.| GeneDx Holdings vs. Hinge Health | GeneDx Holdings vs. Kymera Therapeutics | GeneDx Holdings vs. TransMedics Group | GeneDx Holdings vs. Viking Therapeutics |
| Elevai Labs vs. NKGen Biotech Common | Elevai Labs vs. Windtree Therapeutics | Elevai Labs vs. NewcelX | Elevai Labs vs. Moolec Science SA |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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