Correlation Between MeHow Innovative and Hologic

Can any of the company-specific risk be diversified away by investing in both MeHow Innovative and Hologic 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 MeHow Innovative and Hologic into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between MeHow Innovative Ltd and Hologic, you can compare the effects of market volatilities on MeHow Innovative and Hologic 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 MeHow Innovative with a short position of Hologic. Check out your portfolio center. Please also check ongoing floating volatility patterns of MeHow Innovative and Hologic.

Diversification Opportunities for MeHow Innovative and Hologic

-0.56

Correlation Coefficient

MeHow Innovative  Hologic

Excellent diversification

The 3 months correlation between MeHow and Hologic is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding MeHow Innovative Ltd and Hologic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hologic and MeHow Innovative 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 MeHow Innovative Ltd are associated (or correlated) with Hologic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hologic has no effect on the direction of MeHow Innovative i.e., MeHow Innovative and Hologic go up and down completely randomly.

Pair Corralation between MeHow Innovative and Hologic

Assuming the 90 days trading horizon MeHow Innovative Ltd is expected to under-perform the Hologic. In addition to that, MeHow Innovative is 1.89 times more volatile than Hologic. It trades about -0.08 of its total potential returns per unit of risk. Hologic is currently generating about 0.13 per unit of volatility. If you would invest  6,663  in Hologic on August 26, 2025 and sell it today you would earn a total of  813.00  from holding Hologic or generate 12.2% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	92.19%
Values	Daily Returns

MeHow Innovative Ltd  vs.  Hologic

MeHow Innovative

Risk-Adjusted Performance

Weakest

Over the last 90 days MeHow Innovative Ltd has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in December 2025. The current disturbance may also be a sign of long term up-swing for the company investors.

Hologic

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Hologic are ranked lower than 10 (%) of all global equities and portfolios over the last 90 days. In spite of fairly unsteady essential indicators, Hologic may actually be approaching a critical reversion point that can send shares even higher in December 2025.

Pair Trading with MeHow Innovative and Hologic

The main advantage of trading using opposite MeHow Innovative and Hologic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MeHow Innovative position performs unexpectedly, Hologic 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 Hologic will offset losses from the drop in Hologic's long position.

The idea behind MeHow Innovative Ltd and Hologic 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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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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.