Correlation Between Indaptus Therapeutics and Ginkgo Bioworks

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

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

Diversification Opportunities for Indaptus Therapeutics and Ginkgo Bioworks

-0.42

Correlation Coefficient

Indaptus Therapeutics  Ginkgo Bioworks

Very good diversification

The 3 months correlation between Indaptus and Ginkgo is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding Indaptus Therapeutics and Ginkgo Bioworks Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ginkgo Bioworks Holdings and Indaptus 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 Indaptus Therapeutics are associated (or correlated) with Ginkgo Bioworks. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ginkgo Bioworks Holdings has no effect on the direction of Indaptus Therapeutics i.e., Indaptus Therapeutics and Ginkgo Bioworks go up and down completely randomly.

Pair Corralation between Indaptus Therapeutics and Ginkgo Bioworks

Given the investment horizon of 90 days Indaptus Therapeutics is expected to generate 6.79 times less return on investment than Ginkgo Bioworks. In addition to that, Indaptus Therapeutics is 2.21 times more volatile than Ginkgo Bioworks Holdings. It trades about 0.01 of its total potential returns per unit of risk. Ginkgo Bioworks Holdings is currently generating about 0.17 per unit of volatility. If you would invest  566.00  in Ginkgo Bioworks Holdings on April 1, 2025 and sell it today you would earn a total of  380.00  from holding Ginkgo Bioworks Holdings or generate 67.14% return on investment over 90 days.

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

Indaptus Therapeutics  vs.  Ginkgo Bioworks Holdings

Indaptus Therapeutics

Risk-Adjusted Performance

Weak

Over the last 90 days Indaptus Therapeutics has generated negative risk-adjusted returns adding no value to investors with long positions. Even with relatively uncertain fundamental indicators, Indaptus Therapeutics may actually be approaching a critical reversion point that can send shares even higher in July 2025.

Ginkgo Bioworks Holdings

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Ginkgo Bioworks Holdings are ranked lower than 13 (%) of all global equities and portfolios over the last 90 days. Despite somewhat weak basic indicators, Ginkgo Bioworks sustained solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Indaptus Therapeutics and Ginkgo Bioworks

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

The idea behind Indaptus Therapeutics and Ginkgo Bioworks Holdings 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 Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.