Correlation Between SINTX Technologies and NanoVibronix

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

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

Diversification Opportunities for SINTX Technologies and NanoVibronix

-0.32

Correlation Coefficient

SINTX Technologies  NanoVibronix

Very good diversification

The 3 months correlation between SINTX and NanoVibronix is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding SINTX Technologies and NanoVibronix in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NanoVibronix and SINTX Technologies 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 SINTX Technologies are associated (or correlated) with NanoVibronix. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NanoVibronix has no effect on the direction of SINTX Technologies i.e., SINTX Technologies and NanoVibronix go up and down completely randomly.

Pair Corralation between SINTX Technologies and NanoVibronix

Given the investment horizon of 90 days SINTX Technologies is expected to generate 0.31 times more return on investment than NanoVibronix. However, SINTX Technologies is 3.28 times less risky than NanoVibronix. It trades about -0.03 of its potential returns per unit of risk. NanoVibronix is currently generating about -0.11 per unit of risk. If you would invest  271.00  in SINTX Technologies on May 4, 2025 and sell it today you would lose (31.00) from holding SINTX Technologies or give up 11.44% of portfolio value over 90 days.

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

SINTX Technologies  vs.  NanoVibronix

SINTX Technologies

Risk-Adjusted Performance

Very Weak

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

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 September 2025. The latest fuss may also be a sign of long-term up-swing for the venture sophisticated investors.

Pair Trading with SINTX Technologies and NanoVibronix

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

The idea behind SINTX Technologies and NanoVibronix 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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.