Correlation Between Cullinan Oncology and Structure Therapeutics
Can any of the company-specific risk be diversified away by investing in both Cullinan Oncology and Structure Therapeutics 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 Cullinan Oncology and Structure Therapeutics into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cullinan Oncology LLC and Structure Therapeutics American, you can compare the effects of market volatilities on Cullinan Oncology and Structure Therapeutics 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 Cullinan Oncology with a short position of Structure Therapeutics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cullinan Oncology and Structure Therapeutics.
Diversification Opportunities for Cullinan Oncology and Structure Therapeutics
0.4 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Cullinan and Structure is 0.4. Overlapping area represents the amount of risk that can be diversified away by holding Cullinan Oncology LLC and Structure Therapeutics America in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Structure Therapeutics and Cullinan Oncology 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 Cullinan Oncology LLC are associated (or correlated) with Structure Therapeutics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Structure Therapeutics has no effect on the direction of Cullinan Oncology i.e., Cullinan Oncology and Structure Therapeutics go up and down completely randomly.
Pair Corralation between Cullinan Oncology and Structure Therapeutics
Given the investment horizon of 90 days Cullinan Oncology LLC is expected to generate 1.21 times more return on investment than Structure Therapeutics. However, Cullinan Oncology is 1.21 times more volatile than Structure Therapeutics American. It trades about 0.01 of its potential returns per unit of risk. Structure Therapeutics American is currently generating about -0.05 per unit of risk. If you would invest 784.00 in Cullinan Oncology LLC on May 28, 2025 and sell it today you would lose (20.00) from holding Cullinan Oncology LLC or give up 2.55% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Cullinan Oncology LLC vs. Structure Therapeutics America
Performance |
Timeline |
Cullinan Oncology LLC |
Structure Therapeutics |
Cullinan Oncology and Structure Therapeutics Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Cullinan Oncology and Structure Therapeutics
The main advantage of trading using opposite Cullinan Oncology and Structure Therapeutics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cullinan Oncology position performs unexpectedly, Structure Therapeutics 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 Structure Therapeutics will offset losses from the drop in Structure Therapeutics' long position.Cullinan Oncology vs. Monte Rosa Therapeutics | Cullinan Oncology vs. Design Therapeutics | Cullinan Oncology vs. Erasca Inc | Cullinan Oncology vs. Vor Biopharma |
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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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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