Correlation Between REGAL ASIAN and IMAGIN MEDICAL
Can any of the company-specific risk be diversified away by investing in both REGAL ASIAN and IMAGIN MEDICAL 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 REGAL ASIAN and IMAGIN MEDICAL into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between REGAL ASIAN INVESTMENTS and IMAGIN MEDICAL INC, you can compare the effects of market volatilities on REGAL ASIAN and IMAGIN MEDICAL 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 REGAL ASIAN with a short position of IMAGIN MEDICAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of REGAL ASIAN and IMAGIN MEDICAL.
Diversification Opportunities for REGAL ASIAN and IMAGIN MEDICAL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between REGAL and IMAGIN is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding REGAL ASIAN INVESTMENTS and IMAGIN MEDICAL INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IMAGIN MEDICAL INC and REGAL ASIAN 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 REGAL ASIAN INVESTMENTS are associated (or correlated) with IMAGIN MEDICAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IMAGIN MEDICAL INC has no effect on the direction of REGAL ASIAN i.e., REGAL ASIAN and IMAGIN MEDICAL go up and down completely randomly.
Pair Corralation between REGAL ASIAN and IMAGIN MEDICAL
If you would invest 86.00 in REGAL ASIAN INVESTMENTS on April 20, 2025 and sell it today you would earn a total of 22.00 from holding REGAL ASIAN INVESTMENTS or generate 25.58% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
REGAL ASIAN INVESTMENTS vs. IMAGIN MEDICAL INC
Performance |
Timeline |
REGAL ASIAN INVESTMENTS |
IMAGIN MEDICAL INC |
REGAL ASIAN and IMAGIN MEDICAL Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with REGAL ASIAN and IMAGIN MEDICAL
The main advantage of trading using opposite REGAL ASIAN and IMAGIN MEDICAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if REGAL ASIAN position performs unexpectedly, IMAGIN MEDICAL 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 IMAGIN MEDICAL will offset losses from the drop in IMAGIN MEDICAL's long position.REGAL ASIAN vs. Hochschild Mining plc | REGAL ASIAN vs. CONTAGIOUS GAMING INC | REGAL ASIAN vs. Urban Outfitters | REGAL ASIAN vs. FRACTAL GAMING GROUP |
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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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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