Correlation Between ISpecimen and Tivic Health

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

By analyzing existing cross correlation between iSpecimen and Tivic Health Systems, you can compare the effects of market volatilities on ISpecimen and Tivic Health 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 Tivic Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of ISpecimen and Tivic Health.

Diversification Opportunities for ISpecimen and Tivic Health

0.78

Correlation Coefficient

ISpecimen  Tivic Health

Poor diversification

The 3 months correlation between ISpecimen and Tivic is 0.78. Overlapping area represents the amount of risk that can be diversified away by holding iSpecimen and Tivic Health Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tivic Health Systems 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 Tivic Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tivic Health Systems has no effect on the direction of ISpecimen i.e., ISpecimen and Tivic Health go up and down completely randomly.

Pair Corralation between ISpecimen and Tivic Health

Given the investment horizon of 90 days iSpecimen is expected to under-perform the Tivic Health. But the stock apears to be less risky and, when comparing its historical volatility, iSpecimen is 1.13 times less risky than Tivic Health. The stock trades about -0.15 of its potential returns per unit of risk. The Tivic Health Systems is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest  293.00  in Tivic Health Systems on September 12, 2025 and sell it today you would lose (55.00) from holding Tivic Health Systems or give up 18.77% of portfolio value over 90 days.

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

iSpecimen  vs.  Tivic Health Systems

iSpecimen

Risk-Adjusted Performance

Weakest

Over the last 90 days iSpecimen has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's basic indicators remain rather sound which may send shares a bit higher in January 2026. The latest tumult may also be a sign of longer-term up-swing for the firm shareholders.

Tivic Health Systems

Risk-Adjusted Performance

Weakest

Over the last 90 days Tivic Health Systems has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's basic indicators remain rather sound which may send shares a bit higher in January 2026. The latest tumult may also be a sign of longer-term up-swing for the firm shareholders.

Pair Trading with ISpecimen and Tivic Health

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

The idea behind iSpecimen and Tivic Health Systems 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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.