Correlation Between CryoCell International and American Shared

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

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

Diversification Opportunities for CryoCell International and American Shared

-0.36

Correlation Coefficient

CryoCell International  American Shared

Very good diversification

The 3 months correlation between CryoCell and American is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding CryoCell International and American Shared Hospital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on American Shared Hospital and CryoCell International 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 CryoCell International are associated (or correlated) with American Shared. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of American Shared Hospital has no effect on the direction of CryoCell International i.e., CryoCell International and American Shared go up and down completely randomly.

Pair Corralation between CryoCell International and American Shared

Given the investment horizon of 90 days CryoCell International is expected to generate 1.04 times more return on investment than American Shared. However, CryoCell International is 1.04 times more volatile than American Shared Hospital. It trades about 0.04 of its potential returns per unit of risk. American Shared Hospital is currently generating about -0.02 per unit of risk. If you would invest  474.00  in CryoCell International on May 5, 2025 and sell it today you would earn a total of  22.00  from holding CryoCell International or generate 4.64% return on investment over 90 days.

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

CryoCell International  vs.  American Shared Hospital

CryoCell International

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in CryoCell International are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. Despite quite uncertain technical and fundamental indicators, CryoCell International may actually be approaching a critical reversion point that can send shares even higher in September 2025.

American Shared Hospital

Risk-Adjusted Performance

Very Weak

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

Pair Trading with CryoCell International and American Shared

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

The idea behind CryoCell International and American Shared Hospital 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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.