Correlation Between Intelligent Bio and Corsair Gaming

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

By analyzing existing cross correlation between Intelligent Bio Solutions and Corsair Gaming, you can compare the effects of market volatilities on Intelligent Bio and Corsair Gaming 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 Intelligent Bio with a short position of Corsair Gaming. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intelligent Bio and Corsair Gaming.

Diversification Opportunities for Intelligent Bio and Corsair Gaming

0.41

Correlation Coefficient

Intelligent Bio  Corsair Gaming

Very weak diversification

The 3 months correlation between Intelligent and Corsair is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding Intelligent Bio Solutions and Corsair Gaming in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Corsair Gaming and Intelligent Bio 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 Intelligent Bio Solutions are associated (or correlated) with Corsair Gaming. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Corsair Gaming has no effect on the direction of Intelligent Bio i.e., Intelligent Bio and Corsair Gaming go up and down completely randomly.

Pair Corralation between Intelligent Bio and Corsair Gaming

Given the investment horizon of 90 days Intelligent Bio Solutions is expected to under-perform the Corsair Gaming. In addition to that, Intelligent Bio is 2.52 times more volatile than Corsair Gaming. It trades about -0.11 of its total potential returns per unit of risk. Corsair Gaming is currently generating about -0.05 per unit of volatility. If you would invest  960.00  in Corsair Gaming on July 3, 2025 and sell it today you would lose (87.50) from holding Corsair Gaming or give up 9.11% of portfolio value over 90 days.

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

Intelligent Bio Solutions  vs.  Corsair Gaming

Intelligent Bio Solutions

Risk-Adjusted Performance

Weakest

Over the last 90 days Intelligent Bio Solutions has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of conflicting performance in the last few months, the Stock's fundamental drivers remain comparatively stable which may send shares a bit higher in November 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Corsair Gaming

Risk-Adjusted Performance

Weakest

Over the last 90 days Corsair Gaming has generated negative risk-adjusted returns adding no value to investors with long positions. Even with latest abnormal performance, the Stock's basic indicators remain invariable and the latest agitation on Wall Street may also be a sign of long-running gains for the enterprise retail investors.

Pair Trading with Intelligent Bio and Corsair Gaming

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

The idea behind Intelligent Bio Solutions and Corsair Gaming 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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.