Correlation Between Quantum Medical and Titan America

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

Diversification Opportunities for Quantum Medical and Titan America

0.0

Correlation Coefficient

Quantum Medical  Titan America

Pay attention - limited upside

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

Pair Corralation between Quantum Medical and Titan America

If you would invest  1,301  in Titan America SA on April 25, 2025 and sell it today you would earn a total of  176.00  from holding Titan America SA or generate 13.53% 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.  Titan America SA

Quantum Medical Transport

Risk-Adjusted Performance

Very Weak

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 newest stock price disarray, may contribute to short-term losses for the investors.

Titan America SA

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Titan America SA are ranked lower than 7 (%) of all global equities and portfolios over the last 90 days. In spite of very weak basic indicators, Titan America displayed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Quantum Medical and Titan America

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

The idea behind Quantum Medical Transport and Titan America SA 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.