Correlation Between Beyond Medical and Slate Office

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

By analyzing existing cross correlation between Beyond Medical Technologies and Slate Office REIT, you can compare the effects of market volatilities on Beyond Medical and Slate Office 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 Beyond Medical with a short position of Slate Office. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beyond Medical and Slate Office.

Diversification Opportunities for Beyond Medical and Slate Office

0.41

Correlation Coefficient

Beyond Medical  Slate Office

Very weak diversification

The 3 months correlation between Beyond and Slate is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding Beyond Medical Technologies and Slate Office REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Slate Office REIT and Beyond Medical 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 Beyond Medical Technologies are associated (or correlated) with Slate Office. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Slate Office REIT has no effect on the direction of Beyond Medical i.e., Beyond Medical and Slate Office go up and down completely randomly.

Pair Corralation between Beyond Medical and Slate Office

Assuming the 90 days horizon Beyond Medical Technologies is expected to generate 27.8 times more return on investment than Slate Office. However, Beyond Medical is 27.8 times more volatile than Slate Office REIT. It trades about 0.1 of its potential returns per unit of risk. Slate Office REIT is currently generating about -0.2 per unit of risk. If you would invest  50.00  in Beyond Medical Technologies on September 11, 2025 and sell it today you would lose (30.00) from holding Beyond Medical Technologies or give up 60.0% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Weak
Accuracy	98.46%
Values	Daily Returns

Beyond Medical Technologies  vs.  Slate Office REIT

Beyond Medical Techn

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Beyond Medical Technologies are ranked lower than 7 (%) of all global equities and portfolios over the last 90 days. Despite nearly uncertain forward-looking signals, Beyond Medical reported solid returns over the last few months and may actually be approaching a breakup point.

Slate Office REIT

Risk-Adjusted Performance

Weakest

Over the last 90 days Slate Office REIT has generated negative risk-adjusted returns adding no value to investors with long positions. Despite unsteady performance in the last few months, the Stock's basic indicators remain nearly stable which may send shares a bit higher in January 2026. The current disturbance may also be a sign of long-run up-swing for the company stockholders.

Pair Trading with Beyond Medical and Slate Office

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

The idea behind Beyond Medical Technologies and Slate Office REIT 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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.