Correlation Between Imugene and IXICO Plc

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

By analyzing existing cross correlation between Imugene Limited and IXICO plc, you can compare the effects of market volatilities on Imugene and IXICO Plc 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 IXICO Plc. Check out your portfolio center. Please also check ongoing floating volatility patterns of Imugene and IXICO Plc.

Diversification Opportunities for Imugene and IXICO Plc

0.0

Correlation Coefficient

Imugene  IXICO Plc

Pay attention - limited upside

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

Pair Corralation between Imugene and IXICO Plc

If you would invest  18.00  in Imugene Limited on September 15, 2025 and sell it today you would earn a total of  4.00  from holding Imugene Limited or generate 22.22% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	98.46%
Values	Daily Returns

Imugene Limited  vs.  IXICO plc

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 fragile basic indicators, Imugene reported solid returns over the last few months and may actually be approaching a breakup point.

IXICO plc

Risk-Adjusted Performance

Weakest

Over the last 90 days IXICO plc has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable basic indicators, IXICO Plc is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with Imugene and IXICO Plc

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

The idea behind Imugene Limited and IXICO plc 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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.