Correlation Between CleanGo Innovations and MAIA Biotechnology

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

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

Diversification Opportunities for CleanGo Innovations and MAIA Biotechnology

0.76

Correlation Coefficient

CleanGo Innovations  MAIA Biotechnology

Poor diversification

The 3 months correlation between CleanGo and MAIA is 0.76. Overlapping area represents the amount of risk that can be diversified away by holding CleanGo Innovations and MAIA Biotechnology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MAIA Biotechnology and CleanGo Innovations 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 CleanGo Innovations are associated (or correlated) with MAIA Biotechnology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MAIA Biotechnology has no effect on the direction of CleanGo Innovations i.e., CleanGo Innovations and MAIA Biotechnology go up and down completely randomly.

Pair Corralation between CleanGo Innovations and MAIA Biotechnology

Assuming the 90 days horizon CleanGo Innovations is expected to generate 2.24 times more return on investment than MAIA Biotechnology. However, CleanGo Innovations is 2.24 times more volatile than MAIA Biotechnology. It trades about 0.11 of its potential returns per unit of risk. MAIA Biotechnology is currently generating about -0.02 per unit of risk. If you would invest  19.00  in CleanGo Innovations on September 16, 2025 and sell it today you would earn a total of  28.00  from holding CleanGo Innovations or generate 147.37% return on investment over 90 days.

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

CleanGo Innovations  vs.  MAIA Biotechnology

CleanGo Innovations

Risk-Adjusted Performance

Weakest

Over the last 90 days CleanGo Innovations has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest inconsistent performance, the Stock's basic indicators remain stable and the current disturbance on Wall Street may also be a sign of long-run gains for the company stockholders.

MAIA Biotechnology

Risk-Adjusted Performance

Weakest

Over the last 90 days MAIA Biotechnology has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest uncertain performance, the Stock's forward indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the company investors.

Pair Trading with CleanGo Innovations and MAIA Biotechnology

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

The idea behind CleanGo Innovations and MAIA Biotechnology 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.