Correlation Between MetaVia and Virpax Pharmaceuticals

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

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

Diversification Opportunities for MetaVia and Virpax Pharmaceuticals

-0.16

Correlation Coefficient

MetaVia  Virpax Pharmaceuticals

Good diversification

The 3 months correlation between MetaVia and Virpax is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding MetaVia and Virpax Pharmaceuticals in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Virpax Pharmaceuticals and MetaVia 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 MetaVia are associated (or correlated) with Virpax Pharmaceuticals. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Virpax Pharmaceuticals has no effect on the direction of MetaVia i.e., MetaVia and Virpax Pharmaceuticals go up and down completely randomly.

Pair Corralation between MetaVia and Virpax Pharmaceuticals

Given the investment horizon of 90 days MetaVia is expected to generate 1.7 times less return on investment than Virpax Pharmaceuticals. But when comparing it to its historical volatility, MetaVia is 2.33 times less risky than Virpax Pharmaceuticals. It trades about 0.08 of its potential returns per unit of risk. Virpax Pharmaceuticals is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest  37.00  in Virpax Pharmaceuticals on July 13, 2025 and sell it today you would lose (34.90) from holding Virpax Pharmaceuticals or give up 94.32% of portfolio value over 90 days.

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

MetaVia  vs.  Virpax Pharmaceuticals

MetaVia

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in MetaVia are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. Despite somewhat fragile basic indicators, MetaVia sustained solid returns over the last few months and may actually be approaching a breakup point.

Virpax Pharmaceuticals

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in Virpax Pharmaceuticals are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. In spite of fairly unsteady basic indicators, Virpax Pharmaceuticals showed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with MetaVia and Virpax Pharmaceuticals

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

The idea behind MetaVia and Virpax Pharmaceuticals 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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.