Correlation Between ISpecimen and Genetic Technologies

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

By analyzing existing cross correlation between iSpecimen and Genetic Technologies, you can compare the effects of market volatilities on ISpecimen and Genetic Technologies 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 ISpecimen with a short position of Genetic Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of ISpecimen and Genetic Technologies.

Diversification Opportunities for ISpecimen and Genetic Technologies

0.0

Correlation Coefficient

ISpecimen  Genetic Technologies

Pay attention - limited upside

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

Pair Corralation between ISpecimen and Genetic Technologies

If you would invest  106.00  in iSpecimen on July 16, 2025 and sell it today you would lose (23.00) from holding iSpecimen or give up 21.7% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

iSpecimen  vs.  Genetic Technologies

iSpecimen

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in iSpecimen are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. In spite of rather weak basic indicators, ISpecimen exhibited solid returns over the last few months and may actually be approaching a breakup point.

Genetic Technologies

Risk-Adjusted Performance

Weakest

Over the last 90 days Genetic Technologies has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound basic indicators, Genetic Technologies is not utilizing all of its potentials. The newest stock price tumult, may contribute to shorter-term losses for the shareholders.

Pair Trading with ISpecimen and Genetic Technologies

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

The idea behind iSpecimen and Genetic Technologies 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.

Check out your portfolio center.

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 Transaction History module to view history of all your transactions and understand their impact on performance.