Correlation Between Profound Medical and Anteris Technologies

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

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

Diversification Opportunities for Profound Medical and Anteris Technologies

-0.09

Correlation Coefficient

Profound Medical  Anteris Technologies

Good diversification

The 3 months correlation between Profound and Anteris is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding Profound Medical Corp and Anteris Technologies Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anteris Technologies and Profound 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 Profound Medical Corp are associated (or correlated) with Anteris Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anteris Technologies has no effect on the direction of Profound Medical i.e., Profound Medical and Anteris Technologies go up and down completely randomly.

Pair Corralation between Profound Medical and Anteris Technologies

Given the investment horizon of 90 days Profound Medical Corp is expected to under-perform the Anteris Technologies. But the stock apears to be less risky and, when comparing its historical volatility, Profound Medical Corp is 1.73 times less risky than Anteris Technologies. The stock trades about 0.0 of its potential returns per unit of risk. The Anteris Technologies Global is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest  600.00  in Anteris Technologies Global on August 1, 2025 and sell it today you would lose (160.00) from holding Anteris Technologies Global or give up 26.67% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	44.62%
Values	Daily Returns

Profound Medical Corp  vs.  Anteris Technologies Global

Profound Medical Corp

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in Profound Medical Corp are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. Despite nearly inconsistent basic indicators, Profound Medical reported solid returns over the last few months and may actually be approaching a breakup point.

Anteris Technologies

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Anteris Technologies Global are ranked lower than 9 (%) of all global equities and portfolios over the last 90 days. Even with relatively weak basic indicators, Anteris Technologies reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Profound Medical and Anteris Technologies

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

The idea behind Profound Medical Corp and Anteris Technologies Global 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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.