Correlation Between Quantum Medical and SunOpta

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

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

Diversification Opportunities for Quantum Medical and SunOpta

0.0

Correlation Coefficient

Quantum Medical  SunOpta

Pay attention - limited upside

The 3 months correlation between Quantum and SunOpta is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Quantum Medical Transport and SunOpta in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SunOpta and Quantum Medical 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 Quantum Medical Transport are associated (or correlated) with SunOpta. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SunOpta has no effect on the direction of Quantum Medical i.e., Quantum Medical and SunOpta go up and down completely randomly.

Pair Corralation between Quantum Medical and SunOpta

If you would invest  619.00  in SunOpta on May 15, 2025 and sell it today you would earn a total of  18.00  from holding SunOpta or generate 2.91% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	96.77%
Values	Daily Returns

Quantum Medical Transport  vs.  SunOpta

Quantum Medical Transport

Risk-Adjusted Performance

Weakest

Over the last 90 days Quantum Medical Transport has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy basic indicators, Quantum Medical is not utilizing all of its potentials. The latest stock price disarray, may contribute to short-term losses for the investors.

SunOpta

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in SunOpta are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. Despite quite persistent forward-looking signals, SunOpta is not utilizing all of its potentials. The current stock price mess, may contribute to short-term losses for the institutional investors.

Pair Trading with Quantum Medical and SunOpta

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

The idea behind Quantum Medical Transport and SunOpta 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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.