Correlation Between NanoVibronix and BioAffinity Technologies,

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

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

Diversification Opportunities for NanoVibronix and BioAffinity Technologies,

0.2

Correlation Coefficient

NanoVibronix  BioAffinity Technologies,

Modest diversification

The 3 months correlation between NanoVibronix and BioAffinity is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding NanoVibronix and bioAffinity Technologies, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on bioAffinity Technologies, and NanoVibronix 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 NanoVibronix are associated (or correlated) with BioAffinity Technologies,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of bioAffinity Technologies, has no effect on the direction of NanoVibronix i.e., NanoVibronix and BioAffinity Technologies, go up and down completely randomly.

Pair Corralation between NanoVibronix and BioAffinity Technologies,

Given the investment horizon of 90 days NanoVibronix is expected to under-perform the BioAffinity Technologies,. In addition to that, NanoVibronix is 1.08 times more volatile than bioAffinity Technologies,. It trades about -0.1 of its total potential returns per unit of risk. bioAffinity Technologies, is currently generating about 0.02 per unit of volatility. If you would invest  45.00  in bioAffinity Technologies, on May 2, 2025 and sell it today you would lose (12.00) from holding bioAffinity Technologies, or give up 26.67% of portfolio value over 90 days.

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

NanoVibronix  vs.  bioAffinity Technologies,

NanoVibronix

Risk-Adjusted Performance

Very Weak

Over the last 90 days NanoVibronix has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of uncertain performance in the last few months, the Stock's basic indicators remain fairly stable which may send shares a bit higher in August 2025. The latest fuss may also be a sign of long-term up-swing for the venture sophisticated investors.

bioAffinity Technologies,

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in bioAffinity Technologies, are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, BioAffinity Technologies, reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with NanoVibronix and BioAffinity Technologies,

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

The idea behind NanoVibronix and bioAffinity 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.

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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.