Correlation Between Axogen and Univest Pennsylvania

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

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

Diversification Opportunities for Axogen and Univest Pennsylvania

-0.47

Correlation Coefficient

Axogen  Univest Pennsylvania

Very good diversification

The 3 months correlation between Axogen and Univest is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding Axogen Inc and Univest Pennsylvania in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Univest Pennsylvania and Axogen 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 Axogen Inc are associated (or correlated) with Univest Pennsylvania. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Univest Pennsylvania has no effect on the direction of Axogen i.e., Axogen and Univest Pennsylvania go up and down completely randomly.

Pair Corralation between Axogen and Univest Pennsylvania

Given the investment horizon of 90 days Axogen Inc is expected to under-perform the Univest Pennsylvania. In addition to that, Axogen is 2.43 times more volatile than Univest Pennsylvania. It trades about -0.09 of its total potential returns per unit of risk. Univest Pennsylvania is currently generating about 0.15 per unit of volatility. If you would invest  2,704  in Univest Pennsylvania on April 17, 2025 and sell it today you would earn a total of  416.00  from holding Univest Pennsylvania or generate 15.38% return on investment over 90 days.

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

Axogen Inc  vs.  Univest Pennsylvania

Axogen Inc

Risk-Adjusted Performance

Very Weak

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

Univest Pennsylvania

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Univest Pennsylvania are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. Even with relatively fragile basic indicators, Univest Pennsylvania reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Axogen and Univest Pennsylvania

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

The idea behind Axogen Inc and Univest Pennsylvania 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 Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.