Correlation Between Inhibrx Biosciences, and Structure Therapeutics

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

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

Diversification Opportunities for Inhibrx Biosciences, and Structure Therapeutics

0.55

Correlation Coefficient

Inhibrx Biosciences,  Structure Therapeutics

Very weak diversification

The 3 months correlation between Inhibrx and Structure is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding Inhibrx Biosciences, and Structure Therapeutics America in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Structure Therapeutics and Inhibrx Biosciences, 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 Inhibrx Biosciences, are associated (or correlated) with Structure Therapeutics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Structure Therapeutics has no effect on the direction of Inhibrx Biosciences, i.e., Inhibrx Biosciences, and Structure Therapeutics go up and down completely randomly.

Pair Corralation between Inhibrx Biosciences, and Structure Therapeutics

Given the investment horizon of 90 days Inhibrx Biosciences, is expected to generate 0.9 times more return on investment than Structure Therapeutics. However, Inhibrx Biosciences, is 1.11 times less risky than Structure Therapeutics. It trades about 0.31 of its potential returns per unit of risk. Structure Therapeutics American is currently generating about 0.16 per unit of risk. If you would invest  1,835  in Inhibrx Biosciences, on July 5, 2025 and sell it today you would earn a total of  1,672  from holding Inhibrx Biosciences, or generate 91.12% return on investment over 90 days.

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

Inhibrx Biosciences,  vs.  Structure Therapeutics America

Inhibrx Biosciences,

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Inhibrx Biosciences, are ranked lower than 24 (%) of all global equities and portfolios over the last 90 days. In spite of fairly uncertain fundamental drivers, Inhibrx Biosciences, showed solid returns over the last few months and may actually be approaching a breakup point.

Structure Therapeutics

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Structure Therapeutics American are ranked lower than 12 (%) of all global equities and portfolios over the last 90 days. Even with relatively unfluctuating fundamental indicators, Structure Therapeutics reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Inhibrx Biosciences, and Structure Therapeutics

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

The idea behind Inhibrx Biosciences, and Structure Therapeutics American 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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.