Correlation Between Imugene and Satellos Bioscience

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

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

Diversification Opportunities for Imugene and Satellos Bioscience

0.54

Correlation Coefficient

Imugene  Satellos Bioscience

Very weak diversification

The 3 months correlation between Imugene and Satellos is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding Imugene Limited and Satellos Bioscience in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Satellos Bioscience and Imugene 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 Imugene Limited are associated (or correlated) with Satellos Bioscience. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Satellos Bioscience has no effect on the direction of Imugene i.e., Imugene and Satellos Bioscience go up and down completely randomly.

Pair Corralation between Imugene and Satellos Bioscience

Assuming the 90 days horizon Imugene Limited is expected to generate 13.8 times more return on investment than Satellos Bioscience. However, Imugene is 13.8 times more volatile than Satellos Bioscience. It trades about 0.06 of its potential returns per unit of risk. Satellos Bioscience is currently generating about -0.01 per unit of risk. If you would invest  85.00  in Imugene Limited on September 12, 2025 and sell it today you would lose (62.00) from holding Imugene Limited or give up 72.94% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Weak
Accuracy	98.8%
Values	Daily Returns

Imugene Limited  vs.  Satellos Bioscience

Imugene Limited

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in Imugene Limited are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. Despite nearly weak basic indicators, Imugene reported solid returns over the last few months and may actually be approaching a breakup point.

Satellos Bioscience

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Satellos Bioscience are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile essential indicators, Satellos Bioscience may actually be approaching a critical reversion point that can send shares even higher in January 2026.

Pair Trading with Imugene and Satellos Bioscience

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

The idea behind Imugene Limited and Satellos Bioscience 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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.