Correlation Between Kiora Pharmaceuticals and SINTX Technologies

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

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

Diversification Opportunities for Kiora Pharmaceuticals and SINTX Technologies

-0.13

Correlation Coefficient

Kiora Pharmaceuticals  SINTX Technologies

Good diversification

The 3 months correlation between Kiora and SINTX is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding Kiora Pharmaceuticals and SINTX Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SINTX Technologies and Kiora Pharmaceuticals 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 Kiora Pharmaceuticals are associated (or correlated) with SINTX Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SINTX Technologies has no effect on the direction of Kiora Pharmaceuticals i.e., Kiora Pharmaceuticals and SINTX Technologies go up and down completely randomly.

Pair Corralation between Kiora Pharmaceuticals and SINTX Technologies

Given the investment horizon of 90 days Kiora Pharmaceuticals is expected to under-perform the SINTX Technologies. In addition to that, Kiora Pharmaceuticals is 1.39 times more volatile than SINTX Technologies. It trades about -0.04 of its total potential returns per unit of risk. SINTX Technologies is currently generating about -0.03 per unit of volatility. If you would invest  271.00  in SINTX Technologies on May 5, 2025 and sell it today you would lose (31.00) from holding SINTX Technologies or give up 11.44% of portfolio value over 90 days.

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

Kiora Pharmaceuticals  vs.  SINTX Technologies

Kiora Pharmaceuticals

Risk-Adjusted Performance

Very Weak

Over the last 90 days Kiora Pharmaceuticals 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 fairly strong which may send shares a bit higher in September 2025. The current disturbance may also be a sign of long term up-swing for the company investors.

SINTX Technologies

Risk-Adjusted Performance

Very Weak

Over the last 90 days SINTX Technologies has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest conflicting performance, the Stock's basic indicators remain stable and the newest uproar on Wall Street may also be a sign of mid-term gains for the firm private investors.

Pair Trading with Kiora Pharmaceuticals and SINTX Technologies

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

The idea behind Kiora Pharmaceuticals and SINTX 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.

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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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.