Correlation Between Bonesupport Holding and Enzymatica Publ

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

By analyzing existing cross correlation between Bonesupport Holding AB and Enzymatica publ AB, you can compare the effects of market volatilities on Bonesupport Holding and Enzymatica Publ 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 Bonesupport Holding with a short position of Enzymatica Publ. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bonesupport Holding and Enzymatica Publ.

Diversification Opportunities for Bonesupport Holding and Enzymatica Publ

0.22

Correlation Coefficient

Bonesupport Holding  Enzymatica Publ

Modest diversification

The 3 months correlation between Bonesupport and Enzymatica is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Bonesupport Holding AB and Enzymatica publ AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Enzymatica publ AB and Bonesupport Holding 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 Bonesupport Holding AB are associated (or correlated) with Enzymatica Publ. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Enzymatica publ AB has no effect on the direction of Bonesupport Holding i.e., Bonesupport Holding and Enzymatica Publ go up and down completely randomly.

Pair Corralation between Bonesupport Holding and Enzymatica Publ

Assuming the 90 days trading horizon Bonesupport Holding AB is expected to generate 0.8 times more return on investment than Enzymatica Publ. However, Bonesupport Holding AB is 1.25 times less risky than Enzymatica Publ. It trades about 0.01 of its potential returns per unit of risk. Enzymatica publ AB is currently generating about -0.11 per unit of risk. If you would invest  31,740  in Bonesupport Holding AB on April 25, 2025 and sell it today you would lose (160.00) from holding Bonesupport Holding AB or give up 0.5% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

Bonesupport Holding AB  vs.  Enzymatica publ AB

Bonesupport Holding

Risk-Adjusted Performance

Weak

Over the last 90 days Bonesupport Holding AB has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable basic indicators, Bonesupport Holding is not utilizing all of its potentials. The current stock price uproar, may contribute to short-horizon losses for the private investors.

Enzymatica publ AB

Risk-Adjusted Performance

Very Weak

Over the last 90 days Enzymatica publ AB has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of uncertain performance in the last few months, the Stock's basic indicators remain comparatively stable which may send shares a bit higher in August 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Pair Trading with Bonesupport Holding and Enzymatica Publ

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

The idea behind Bonesupport Holding AB and Enzymatica publ AB 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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.