Correlation Between Data3 and MacroGenics

Can any of the company-specific risk be diversified away by investing in both Data3 and MacroGenics 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 Data3 and MacroGenics into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Data3 Limited and MacroGenics, you can compare the effects of market volatilities on Data3 and MacroGenics 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 Data3 with a short position of MacroGenics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Data3 and MacroGenics.

Diversification Opportunities for Data3 and MacroGenics

-0.3

Correlation Coefficient

Data3  MacroGenics

Very good diversification

The 3 months correlation between Data3 and MacroGenics is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding Data3 Limited and MacroGenics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MacroGenics and Data3 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 Data3 Limited are associated (or correlated) with MacroGenics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MacroGenics has no effect on the direction of Data3 i.e., Data3 and MacroGenics go up and down completely randomly.

Pair Corralation between Data3 and MacroGenics

Assuming the 90 days horizon Data3 Limited is expected to generate 0.06 times more return on investment than MacroGenics. However, Data3 Limited is 15.54 times less risky than MacroGenics. It trades about 0.12 of its potential returns per unit of risk. MacroGenics is currently generating about -0.06 per unit of risk. If you would invest  395.00  in Data3 Limited on September 7, 2025 and sell it today you would earn a total of  10.00  from holding Data3 Limited or generate 2.53% return on investment over 90 days.

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

Data3 Limited  vs.  MacroGenics

Data3 Limited

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Data3 Limited are ranked lower than 9 (%) of all global equities and portfolios over the last 90 days. Despite nearly stable basic indicators, Data3 is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

MacroGenics

Risk-Adjusted Performance

Weakest

Over the last 90 days MacroGenics has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of unsteady performance in the last few months, the Stock's basic indicators remain fairly strong which may send shares a bit higher in January 2026. The current disturbance may also be a sign of long term up-swing for the company investors.

Pair Trading with Data3 and MacroGenics

The main advantage of trading using opposite Data3 and MacroGenics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Data3 position performs unexpectedly, MacroGenics 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 MacroGenics will offset losses from the drop in MacroGenics' long position.

The idea behind Data3 Limited and MacroGenics 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.

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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.