Correlation Between Repare Therapeutics and Integra LifeSciences

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

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

Diversification Opportunities for Repare Therapeutics and Integra LifeSciences

-0.07

Correlation Coefficient

Repare Therapeutics  Integra LifeSciences

Good diversification

The 3 months correlation between Repare and Integra is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding Repare Therapeutics and Integra LifeSciences Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integra LifeSciences and Repare Therapeutics 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 Repare Therapeutics are associated (or correlated) with Integra LifeSciences. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integra LifeSciences has no effect on the direction of Repare Therapeutics i.e., Repare Therapeutics and Integra LifeSciences go up and down completely randomly.

Pair Corralation between Repare Therapeutics and Integra LifeSciences

Given the investment horizon of 90 days Repare Therapeutics is expected to generate 0.76 times more return on investment than Integra LifeSciences. However, Repare Therapeutics is 1.32 times less risky than Integra LifeSciences. It trades about 0.11 of its potential returns per unit of risk. Integra LifeSciences Holdings is currently generating about 0.01 per unit of risk. If you would invest  131.00  in Repare Therapeutics on May 14, 2025 and sell it today you would earn a total of  23.00  from holding Repare Therapeutics or generate 17.56% return on investment over 90 days.

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

Repare Therapeutics  vs.  Integra LifeSciences Holdings

Repare Therapeutics

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Repare Therapeutics are ranked lower than 9 (%) of all global equities and portfolios over the last 90 days. In spite of fairly uncertain basic indicators, Repare Therapeutics showed solid returns over the last few months and may actually be approaching a breakup point.

Integra LifeSciences

Risk-Adjusted Performance

Weakest

Over the last 90 days Integra LifeSciences Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable basic indicators, Integra LifeSciences is not utilizing all of its potentials. The latest stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with Repare Therapeutics and Integra LifeSciences

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

The idea behind Repare Therapeutics and Integra LifeSciences Holdings 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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.