Correlation Between Enlivex Therapeutics and BioLine RX

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

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

Diversification Opportunities for Enlivex Therapeutics and BioLine RX

0.58

Correlation Coefficient

Enlivex Therapeutics  BioLine RX

Very weak diversification

The 3 months correlation between Enlivex and BioLine is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Enlivex Therapeutics and BioLine RX in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BioLine RX and Enlivex 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 Enlivex Therapeutics are associated (or correlated) with BioLine RX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BioLine RX has no effect on the direction of Enlivex Therapeutics i.e., Enlivex Therapeutics and BioLine RX go up and down completely randomly.

Pair Corralation between Enlivex Therapeutics and BioLine RX

Assuming the 90 days trading horizon Enlivex Therapeutics is expected to generate 0.79 times more return on investment than BioLine RX. However, Enlivex Therapeutics is 1.26 times less risky than BioLine RX. It trades about 0.02 of its potential returns per unit of risk. BioLine RX is currently generating about -0.1 per unit of risk. If you would invest  34,410  in Enlivex Therapeutics on July 29, 2025 and sell it today you would earn a total of  160.00  from holding Enlivex Therapeutics or generate 0.46% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Weak
Accuracy	73.33%
Values	Daily Returns

Enlivex Therapeutics  vs.  BioLine RX

Enlivex Therapeutics

Risk-Adjusted Performance

Weakest

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

BioLine RX

Risk-Adjusted Performance

Weakest

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

Pair Trading with Enlivex Therapeutics and BioLine RX

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

The idea behind Enlivex Therapeutics and BioLine RX 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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.