Correlation Between Tevogen Bio and Microbot Medical

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

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

Diversification Opportunities for Tevogen Bio and Microbot Medical

0.91

Correlation Coefficient

Tevogen Bio  Microbot Medical

Almost no diversification

The 3 months correlation between Tevogen and Microbot is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Tevogen Bio Holdings and Microbot Medical in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Microbot Medical and Tevogen Bio 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 Tevogen Bio Holdings are associated (or correlated) with Microbot Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Microbot Medical has no effect on the direction of Tevogen Bio i.e., Tevogen Bio and Microbot Medical go up and down completely randomly.

Pair Corralation between Tevogen Bio and Microbot Medical

Given the investment horizon of 90 days Tevogen Bio Holdings is expected to under-perform the Microbot Medical. But the stock apears to be less risky and, when comparing its historical volatility, Tevogen Bio Holdings is 1.15 times less risky than Microbot Medical. The stock trades about -0.17 of its potential returns per unit of risk. The Microbot Medical is currently generating about -0.06 of returns per unit of risk over similar time horizon. If you would invest  366.00  in Microbot Medical on September 5, 2025 and sell it today you would lose (117.00) from holding Microbot Medical or give up 31.97% of portfolio value over 90 days.

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

Tevogen Bio Holdings  vs.  Microbot Medical

Tevogen Bio Holdings

Risk-Adjusted Performance

Weakest

Over the last 90 days Tevogen Bio Holdings 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 technical and fundamental indicators remain very healthy which may send shares a bit higher in January 2026. The recent disarray may also be a sign of long period up-swing for the firm investors.

Microbot Medical

Risk-Adjusted Performance

Weakest

Over the last 90 days Microbot Medical 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 comparatively stable which may send shares a bit higher in January 2026. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Pair Trading with Tevogen Bio and Microbot Medical

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

The idea behind Tevogen Bio Holdings and Microbot Medical 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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.