Correlation Between BioAffinity Technologies, and SUNation Energy

Can any of the company-specific risk be diversified away by investing in both BioAffinity Technologies, and SUNation 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 SUNation 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 SUNation Energy, you can compare the effects of market volatilities on BioAffinity Technologies, and SUNation 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 SUNation Energy. Check out your portfolio center. Please also check ongoing floating volatility patterns of BioAffinity Technologies, and SUNation Energy.

Diversification Opportunities for BioAffinity Technologies, and SUNation Energy

0.73

Correlation Coefficient

BioAffinity Technologies,  SUNation Energy

Poor diversification

The 3 months correlation between BioAffinity and SUNation is 0.73. Overlapping area represents the amount of risk that can be diversified away by holding bioAffinity Technologies, and SUNation Energy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SUNation Energy 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 SUNation Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SUNation Energy has no effect on the direction of BioAffinity Technologies, i.e., BioAffinity Technologies, and SUNation Energy go up and down completely randomly.

Pair Corralation between BioAffinity Technologies, and SUNation Energy

Given the investment horizon of 90 days bioAffinity Technologies, is expected to under-perform the SUNation Energy. In addition to that, BioAffinity Technologies, is 3.8 times more volatile than SUNation Energy. It trades about -0.08 of its total potential returns per unit of risk. SUNation Energy is currently generating about -0.08 per unit of volatility. If you would invest  168.00  in SUNation Energy on July 3, 2025 and sell it today you would lose (28.00) from holding SUNation Energy or give up 16.67% of portfolio value over 90 days.

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

bioAffinity Technologies,  vs.  SUNation Energy

bioAffinity Technologies,

Risk-Adjusted Performance

Weakest

Over the last 90 days bioAffinity Technologies, has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Stock's basic indicators remain nearly stable which may send shares a bit higher in November 2025. The current disturbance may also be a sign of long-run up-swing for the company stockholders.

SUNation Energy

Risk-Adjusted Performance

Weakest

Over the last 90 days SUNation Energy 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 rather sound which may send shares a bit higher in November 2025. The latest tumult may also be a sign of longer-term up-swing for the firm shareholders.

Pair Trading with BioAffinity Technologies, and SUNation Energy

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

The idea behind bioAffinity Technologies, and SUNation Energy 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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.