Correlation Between Richtech Robotics and Jasper Therapeutics

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

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

Diversification Opportunities for Richtech Robotics and Jasper Therapeutics

-0.3

Correlation Coefficient

Richtech Robotics  Jasper Therapeutics

Very good diversification

The 3 months correlation between Richtech and Jasper is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding Richtech Robotics Class and Jasper Therapeutics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jasper Therapeutics and Richtech Robotics 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 Richtech Robotics Class are associated (or correlated) with Jasper Therapeutics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jasper Therapeutics has no effect on the direction of Richtech Robotics i.e., Richtech Robotics and Jasper Therapeutics go up and down completely randomly.

Pair Corralation between Richtech Robotics and Jasper Therapeutics

Allowing for the 90-day total investment horizon Richtech Robotics Class is expected to generate 0.58 times more return on investment than Jasper Therapeutics. However, Richtech Robotics Class is 1.71 times less risky than Jasper Therapeutics. It trades about 0.22 of its potential returns per unit of risk. Jasper Therapeutics is currently generating about 0.06 per unit of risk. If you would invest  209.00  in Richtech Robotics Class on July 19, 2025 and sell it today you would earn a total of  358.00  from holding Richtech Robotics Class or generate 171.29% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	49.21%
Values	Daily Returns

Richtech Robotics Class  vs.  Jasper Therapeutics

Richtech Robotics Class

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Richtech Robotics Class are ranked lower than 17 (%) of all global equities and portfolios over the last 90 days. Even with relatively fragile basic indicators, Richtech Robotics reported solid returns over the last few months and may actually be approaching a breakup point.

Jasper Therapeutics

Risk-Adjusted Performance

Soft

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

Pair Trading with Richtech Robotics and Jasper Therapeutics

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

The idea behind Richtech Robotics Class and Jasper Therapeutics 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.

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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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.