Correlation Between Indaptus Therapeutics and Seneca Foods

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

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

Diversification Opportunities for Indaptus Therapeutics and Seneca Foods

0.2

Correlation Coefficient

Indaptus Therapeutics  Seneca Foods

Modest diversification

The 3 months correlation between Indaptus and Seneca is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Indaptus Therapeutics and Seneca Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Seneca Foods 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 Seneca Foods. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Seneca Foods has no effect on the direction of Indaptus Therapeutics i.e., Indaptus Therapeutics and Seneca Foods go up and down completely randomly.

Pair Corralation between Indaptus Therapeutics and Seneca Foods

Given the investment horizon of 90 days Indaptus Therapeutics is expected to generate 19.37 times more return on investment than Seneca Foods. However, Indaptus Therapeutics is 19.37 times more volatile than Seneca Foods. It trades about 0.04 of its potential returns per unit of risk. Seneca Foods is currently generating about 0.02 per unit of risk. If you would invest  269.00  in Indaptus Therapeutics on September 9, 2025 and sell it today you would lose (8.00) from holding Indaptus Therapeutics or give up 2.97% of portfolio value over 90 days.

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

Indaptus Therapeutics  vs.  Seneca Foods

Indaptus Therapeutics

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Indaptus Therapeutics are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. Even with relatively unfluctuating fundamental indicators, Indaptus Therapeutics reported solid returns over the last few months and may actually be approaching a breakup point.

Seneca Foods

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Seneca Foods are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. In spite of very healthy technical and fundamental indicators, Seneca Foods is not utilizing all of its potentials. The current stock price disarray, may contribute to short-term losses for the investors.

Pair Trading with Indaptus Therapeutics and Seneca Foods

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

The idea behind Indaptus Therapeutics and Seneca Foods 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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.