Correlation Between Edwards Lifesciences and Quantum Medical

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

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

Diversification Opportunities for Edwards Lifesciences and Quantum Medical

0.0

Correlation Coefficient

Edwards Lifesciences  Quantum Medical

Pay attention - limited upside

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

Pair Corralation between Edwards Lifesciences and Quantum Medical

Allowing for the 90-day total investment horizon Edwards Lifesciences is expected to generate 42.47 times less return on investment than Quantum Medical. But when comparing it to its historical volatility, Edwards Lifesciences Corp is 21.06 times less risky than Quantum Medical. It trades about 0.02 of its potential returns per unit of risk. Quantum Medical Transport is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest  0.00  in Quantum Medical Transport on September 13, 2025 and sell it today you would earn a total of  0.00  from holding Quantum Medical Transport or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Edwards Lifesciences Corp  vs.  Quantum Medical Transport

Edwards Lifesciences Corp

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Edwards Lifesciences Corp are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. In spite of fairly weak basic indicators, Edwards Lifesciences may actually be approaching a critical reversion point that can send shares even higher in January 2026.

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.

Pair Trading with Edwards Lifesciences and Quantum Medical

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

The idea behind Edwards Lifesciences Corp and Quantum Medical Transport 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 Bonds Directory module to find actively traded corporate debentures issued by US companies.