Correlation Between Microbot Medical and Guardion Health

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

By analyzing existing cross correlation between Microbot Medical and Guardion Health Sciences, you can compare the effects of market volatilities on Microbot Medical and Guardion 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 Microbot Medical with a short position of Guardion Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of Microbot Medical and Guardion Health.

Diversification Opportunities for Microbot Medical and Guardion Health

0.0

Correlation Coefficient

Microbot Medical  Guardion Health

Pay attention - limited upside

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

Pair Corralation between Microbot Medical and Guardion Health

If you would invest  246.00  in Microbot Medical on May 14, 2025 and sell it today you would earn a total of  66.00  from holding Microbot Medical or generate 26.83% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

Microbot Medical  vs.  Guardion Health Sciences

Microbot Medical

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in Microbot Medical are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively unfluctuating basic indicators, Microbot Medical unveiled solid returns over the last few months and may actually be approaching a breakup point.

Guardion Health Sciences

Risk-Adjusted Performance

Weakest

Over the last 90 days Guardion Health Sciences has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fairly strong basic indicators, Guardion Health is not utilizing all of its potentials. The recent stock price confusion, may contribute to short-horizon losses for the traders.

Pair Trading with Microbot Medical and Guardion Health

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

The idea behind Microbot Medical and Guardion Health Sciences 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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.