Correlation Between Perspective Therapeutics and SurModics

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

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

Diversification Opportunities for Perspective Therapeutics and SurModics

-0.07

Correlation Coefficient

Perspective Therapeutics  SurModics

Good diversification

The 3 months correlation between Perspective and SurModics is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding Perspective Therapeutics and SurModics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SurModics and Perspective Therapeutics 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 Perspective Therapeutics are associated (or correlated) with SurModics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SurModics has no effect on the direction of Perspective Therapeutics i.e., Perspective Therapeutics and SurModics go up and down completely randomly.

Pair Corralation between Perspective Therapeutics and SurModics

Given the investment horizon of 90 days Perspective Therapeutics is expected to under-perform the SurModics. But the stock apears to be less risky and, when comparing its historical volatility, Perspective Therapeutics is 1.0 times less risky than SurModics. The stock trades about -0.11 of its potential returns per unit of risk. The SurModics is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest  3,689  in SurModics on August 16, 2025 and sell it today you would earn a total of  452.00  from holding SurModics or generate 12.25% return on investment over 90 days.

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

Perspective Therapeutics  vs.  SurModics

Perspective Therapeutics

Risk-Adjusted Performance

Weakest

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

SurModics

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in SurModics are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. In spite of fairly uncertain fundamental indicators, SurModics showed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Perspective Therapeutics and SurModics

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

The idea behind Perspective Therapeutics and SurModics 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 Transaction History module to view history of all your transactions and understand their impact on performance.