Correlation Between InTest and Atomera

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

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

Diversification Opportunities for InTest and Atomera

0.26

Correlation Coefficient

InTest  Atomera

Modest diversification

The 3 months correlation between InTest and Atomera is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding inTest and Atomera in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atomera and InTest 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 inTest are associated (or correlated) with Atomera. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atomera has no effect on the direction of InTest i.e., InTest and Atomera go up and down completely randomly.

Pair Corralation between InTest and Atomera

Given the investment horizon of 90 days inTest is expected to generate 0.5 times more return on investment than Atomera. However, inTest is 2.01 times less risky than Atomera. It trades about 0.05 of its potential returns per unit of risk. Atomera is currently generating about -0.08 per unit of risk. If you would invest  695.00  in inTest on August 25, 2025 and sell it today you would earn a total of  60.00  from holding inTest or generate 8.63% return on investment over 90 days.

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

inTest  vs.  Atomera

inTest

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in inTest are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively uncertain basic indicators, InTest may actually be approaching a critical reversion point that can send shares even higher in December 2025.

Atomera

Risk-Adjusted Performance

Weakest

Over the last 90 days Atomera has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's basic indicators remain very healthy which may send shares a bit higher in December 2025. The recent disarray may also be a sign of long period up-swing for the firm investors.

Pair Trading with InTest and Atomera

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

The idea behind inTest and Atomera 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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.