Correlation Between Enlivex Therapeutics and Eshallgo

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

By analyzing existing cross correlation between Enlivex Therapeutics and Eshallgo Class A, you can compare the effects of market volatilities on Enlivex Therapeutics and Eshallgo 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 Eshallgo. Check out your portfolio center. Please also check ongoing floating volatility patterns of Enlivex Therapeutics and Eshallgo.

Diversification Opportunities for Enlivex Therapeutics and Eshallgo

-0.62

Correlation Coefficient

Enlivex Therapeutics  Eshallgo

Excellent diversification

The 3 months correlation between Enlivex and Eshallgo is -0.62. Overlapping area represents the amount of risk that can be diversified away by holding Enlivex Therapeutics and Eshallgo Class A in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Eshallgo Class A 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 Eshallgo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Eshallgo Class A has no effect on the direction of Enlivex Therapeutics i.e., Enlivex Therapeutics and Eshallgo go up and down completely randomly.

Pair Corralation between Enlivex Therapeutics and Eshallgo

Given the investment horizon of 90 days Enlivex Therapeutics is expected to generate 0.89 times more return on investment than Eshallgo. However, Enlivex Therapeutics is 1.12 times less risky than Eshallgo. It trades about 0.14 of its potential returns per unit of risk. Eshallgo Class A is currently generating about -0.15 per unit of risk. If you would invest  104.00  in Enlivex Therapeutics on May 5, 2025 and sell it today you would earn a total of  41.00  from holding Enlivex Therapeutics or generate 39.42% return on investment over 90 days.

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

Enlivex Therapeutics  vs.  Eshallgo Class A

Enlivex Therapeutics

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Enlivex Therapeutics are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. In spite of fairly fragile essential indicators, Enlivex Therapeutics showed solid returns over the last few months and may actually be approaching a breakup point.

Eshallgo Class A

Risk-Adjusted Performance

Very Weak

Over the last 90 days Eshallgo Class A has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of inconsistent performance in the last few months, the Stock's technical and fundamental indicators remain very healthy which may send shares a bit higher in September 2025. The recent disarray may also be a sign of long period up-swing for the firm investors.

Pair Trading with Enlivex Therapeutics and Eshallgo

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

The idea behind Enlivex Therapeutics and Eshallgo Class A 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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.