Correlation Between BioAffinity Technologies, and Clean Energy

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

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

Diversification Opportunities for BioAffinity Technologies, and Clean Energy

-0.61

Correlation Coefficient

BioAffinity Technologies,  Clean Energy

Excellent diversification

The 3 months correlation between BioAffinity and Clean is -0.61. Overlapping area represents the amount of risk that can be diversified away by holding bioAffinity Technologies, and Clean Energy Technologies, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Clean Energy Technol and BioAffinity Technologies, 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 bioAffinity Technologies, are associated (or correlated) with Clean Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Clean Energy Technol has no effect on the direction of BioAffinity Technologies, i.e., BioAffinity Technologies, and Clean Energy go up and down completely randomly.

Pair Corralation between BioAffinity Technologies, and Clean Energy

Given the investment horizon of 90 days bioAffinity Technologies, is expected to generate 1.54 times more return on investment than Clean Energy. However, BioAffinity Technologies, is 1.54 times more volatile than Clean Energy Technologies,. It trades about 0.1 of its potential returns per unit of risk. Clean Energy Technologies, is currently generating about -0.08 per unit of risk. If you would invest  20.00  in bioAffinity Technologies, on May 11, 2025 and sell it today you would earn a total of  9.00  from holding bioAffinity Technologies, or generate 45.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Weak
Accuracy	98.41%
Values	Daily Returns

bioAffinity Technologies,  vs.  Clean Energy Technologies,

bioAffinity Technologies,

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in bioAffinity Technologies, are ranked lower than 8 (%) 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.

Clean Energy Technol

Risk-Adjusted Performance

Weakest

Over the last 90 days Clean Energy Technologies, has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of uncertain performance in the last few months, the Stock's basic indicators remain fairly strong which may send shares a bit higher in September 2025. The current disturbance may also be a sign of long term up-swing for the company investors.

Pair Trading with BioAffinity Technologies, and Clean Energy

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

The idea behind bioAffinity Technologies, and Clean Energy 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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.