Correlation Between Cantargia and Stayble Therapeutics

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

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

Diversification Opportunities for Cantargia and Stayble Therapeutics

-0.16

Correlation Coefficient

Cantargia  Stayble Therapeutics

Good diversification

The 3 months correlation between Cantargia and Stayble is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Cantargia AB and Stayble Therapeutics AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Stayble Therapeutics and Cantargia 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 Cantargia AB are associated (or correlated) with Stayble Therapeutics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Stayble Therapeutics has no effect on the direction of Cantargia i.e., Cantargia and Stayble Therapeutics go up and down completely randomly.

Pair Corralation between Cantargia and Stayble Therapeutics

Assuming the 90 days trading horizon Cantargia AB is expected to generate 5.43 times more return on investment than Stayble Therapeutics. However, Cantargia is 5.43 times more volatile than Stayble Therapeutics AB. It trades about 0.1 of its potential returns per unit of risk. Stayble Therapeutics AB is currently generating about 0.02 per unit of risk. If you would invest  156.00  in Cantargia AB on April 24, 2025 and sell it today you would earn a total of  144.00  from holding Cantargia AB or generate 92.31% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Cantargia AB  vs.  Stayble Therapeutics AB

Cantargia AB

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Cantargia AB are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively uncertain basic indicators, Cantargia unveiled solid returns over the last few months and may actually be approaching a breakup point.

Stayble Therapeutics

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Stayble Therapeutics AB are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively fragile basic indicators, Stayble Therapeutics may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Pair Trading with Cantargia and Stayble Therapeutics

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

The idea behind Cantargia AB and Stayble Therapeutics 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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.