Correlation Between Sidus Space and Intuitive Machines

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

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

Diversification Opportunities for Sidus Space and Intuitive Machines

0.24

Correlation Coefficient

Sidus Space  Intuitive Machines

Modest diversification

The 3 months correlation between Sidus and Intuitive is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding Sidus Space and Intuitive Machines in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intuitive Machines and Sidus Space 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 Sidus Space are associated (or correlated) with Intuitive Machines. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intuitive Machines has no effect on the direction of Sidus Space i.e., Sidus Space and Intuitive Machines go up and down completely randomly.

Pair Corralation between Sidus Space and Intuitive Machines

Given the investment horizon of 90 days Sidus Space is expected to under-perform the Intuitive Machines. In addition to that, Sidus Space is 1.34 times more volatile than Intuitive Machines. It trades about -0.02 of its total potential returns per unit of risk. Intuitive Machines is currently generating about 0.07 per unit of volatility. If you would invest  905.00  in Intuitive Machines on May 5, 2025 and sell it today you would earn a total of  156.00  from holding Intuitive Machines or generate 17.24% return on investment over 90 days.

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

Sidus Space  vs.  Intuitive Machines

Sidus Space

Risk-Adjusted Performance

Very Weak

Over the last 90 days Sidus Space has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest abnormal performance, the Stock's fundamental indicators remain stable and the newest uproar on Wall Street may also be a sign of mid-term gains for the firm private investors.

Intuitive Machines

Risk-Adjusted Performance

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in Intuitive Machines are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. Even with relatively inconsistent basic indicators, Intuitive Machines reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Sidus Space and Intuitive Machines

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

The idea behind Sidus Space and Intuitive Machines 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.