Correlation Between Microbot Medical and Intelligent Protection

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

By analyzing existing cross correlation between Microbot Medical and Intelligent Protection Management, you can compare the effects of market volatilities on Microbot Medical and Intelligent Protection 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 Intelligent Protection. Check out your portfolio center. Please also check ongoing floating volatility patterns of Microbot Medical and Intelligent Protection.

Diversification Opportunities for Microbot Medical and Intelligent Protection

0.11

Correlation Coefficient

Microbot Medical  Intelligent Protection

Average diversification

The 3 months correlation between Microbot and Intelligent is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding Microbot Medical and Intelligent Protection Managem in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intelligent Protection 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 Intelligent Protection. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intelligent Protection has no effect on the direction of Microbot Medical i.e., Microbot Medical and Intelligent Protection go up and down completely randomly.

Pair Corralation between Microbot Medical and Intelligent Protection

Given the investment horizon of 90 days Microbot Medical is expected to generate 1.09 times more return on investment than Intelligent Protection. However, Microbot Medical is 1.09 times more volatile than Intelligent Protection Management. It trades about 0.08 of its potential returns per unit of risk. Intelligent Protection Management is currently generating about 0.01 per unit of risk. If you would invest  262.00  in Microbot Medical on May 20, 2025 and sell it today you would earn a total of  47.00  from holding Microbot Medical or generate 17.94% return on investment over 90 days.

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

Microbot Medical  vs.  Intelligent Protection Managem

Microbot Medical

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in Microbot Medical are ranked lower than 6 (%) 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.

Intelligent Protection

Risk-Adjusted Performance

Weakest

Over the last 90 days Intelligent Protection Management has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy basic indicators, Intelligent Protection is not utilizing all of its potentials. The newest stock price disarray, may contribute to short-term losses for the investors.

Pair Trading with Microbot Medical and Intelligent Protection

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

The idea behind Microbot Medical and Intelligent Protection Management 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.