Correlation Between Adynxx and Quick-Med Technologies

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

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

Diversification Opportunities for Adynxx and Quick-Med Technologies

0.0

Correlation Coefficient

Adynxx  Quick-Med Technologies

Pay attention - limited upside

The 3 months correlation between Adynxx and Quick-Med is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Adynxx Inc and Quick Med Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Quick Med Technologies and Adynxx 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 Adynxx Inc are associated (or correlated) with Quick-Med Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Quick Med Technologies has no effect on the direction of Adynxx i.e., Adynxx and Quick-Med Technologies go up and down completely randomly.

Pair Corralation between Adynxx and Quick-Med Technologies

If you would invest  0.01  in Quick Med Technologies on May 4, 2025 and sell it today you would earn a total of  0.00  from holding Quick Med Technologies or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

Adynxx Inc  vs.  Quick Med Technologies

Adynxx Inc

Risk-Adjusted Performance

Very Weak

Over the last 90 days Adynxx Inc has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly strong basic indicators, Adynxx is not utilizing all of its potentials. The newest stock price disturbance, may contribute to short-term losses for the investors.

Quick Med Technologies

Risk-Adjusted Performance

Very Weak

Over the last 90 days Quick Med Technologies has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable fundamental indicators, Quick-Med Technologies is not utilizing all of its potentials. The current stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with Adynxx and Quick-Med Technologies

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

The idea behind Adynxx Inc and Quick Med 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.

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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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..