Correlation Between Apple and BioAffinity Technologies,

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

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

Diversification Opportunities for Apple and BioAffinity Technologies,

0.32

Correlation Coefficient

Apple  BioAffinity Technologies,

Weak diversification

The 3 months correlation between Apple and BioAffinity is 0.32. Overlapping area represents the amount of risk that can be diversified away by holding Apple Inc and bioAffinity Technologies, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on bioAffinity Technologies, and Apple 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 Apple Inc are associated (or correlated) with BioAffinity Technologies,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of bioAffinity Technologies, has no effect on the direction of Apple i.e., Apple and BioAffinity Technologies, go up and down completely randomly.

Pair Corralation between Apple and BioAffinity Technologies,

Given the investment horizon of 90 days Apple is expected to generate 12.29 times less return on investment than BioAffinity Technologies,. But when comparing it to its historical volatility, Apple Inc is 8.87 times less risky than BioAffinity Technologies,. It trades about 0.02 of its potential returns per unit of risk. bioAffinity Technologies, is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest  47.00  in bioAffinity Technologies, on April 30, 2025 and sell it today you would lose (13.00) from holding bioAffinity Technologies, or give up 27.66% of portfolio value over 90 days.

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

Apple Inc  vs.  bioAffinity Technologies,

Apple Inc

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Apple Inc are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. Despite quite persistent basic indicators, Apple is not utilizing all of its potentials. The latest stock price mess, may contribute to short-term losses for the institutional investors.

bioAffinity Technologies,

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in bioAffinity Technologies, are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, BioAffinity Technologies, reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Apple and BioAffinity Technologies,

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

The idea behind Apple Inc and bioAffinity Technologies, 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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.