Correlation Between Lucid Diagnostics and Atossa Genetics

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

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

Diversification Opportunities for Lucid Diagnostics and Atossa Genetics

0.25

Correlation Coefficient

Lucid Diagnostics  Atossa Genetics

Modest diversification

The 3 months correlation between Lucid and Atossa is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding Lucid Diagnostics and Atossa Genetics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atossa Genetics and Lucid Diagnostics 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 Lucid Diagnostics are associated (or correlated) with Atossa Genetics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atossa Genetics has no effect on the direction of Lucid Diagnostics i.e., Lucid Diagnostics and Atossa Genetics go up and down completely randomly.

Pair Corralation between Lucid Diagnostics and Atossa Genetics

Given the investment horizon of 90 days Lucid Diagnostics is expected to generate 1.43 times more return on investment than Atossa Genetics. However, Lucid Diagnostics is 1.43 times more volatile than Atossa Genetics. It trades about 0.05 of its potential returns per unit of risk. Atossa Genetics is currently generating about 0.05 per unit of risk. If you would invest  98.00  in Lucid Diagnostics on August 13, 2025 and sell it today you would earn a total of  7.00  from holding Lucid Diagnostics or generate 7.14% return on investment over 90 days.

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

Lucid Diagnostics  vs.  Atossa Genetics

Lucid Diagnostics

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in Lucid Diagnostics are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. In spite of rather unsteady fundamental indicators, Lucid Diagnostics exhibited solid returns over the last few months and may actually be approaching a breakup point.

Atossa Genetics

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in Atossa Genetics are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively weak basic indicators, Atossa Genetics may actually be approaching a critical reversion point that can send shares even higher in December 2025.

Pair Trading with Lucid Diagnostics and Atossa Genetics

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

The idea behind Lucid Diagnostics and Atossa Genetics 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.