Correlation Between SINTX Technologies and Palisade Bio

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

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

Diversification Opportunities for SINTX Technologies and Palisade Bio

-0.06

Correlation Coefficient

SINTX Technologies  Palisade Bio

Good diversification

The 3 months correlation between SINTX and Palisade is -0.06. Overlapping area represents the amount of risk that can be diversified away by holding SINTX Technologies and Palisade Bio in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Palisade Bio 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 Palisade Bio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Palisade Bio has no effect on the direction of SINTX Technologies i.e., SINTX Technologies and Palisade Bio go up and down completely randomly.

Pair Corralation between SINTX Technologies and Palisade Bio

Given the investment horizon of 90 days SINTX Technologies is expected to generate 13.44 times less return on investment than Palisade Bio. But when comparing it to its historical volatility, SINTX Technologies is 2.6 times less risky than Palisade Bio. It trades about 0.08 of its potential returns per unit of risk. Palisade Bio is currently generating about 0.39 of returns per unit of risk over similar time horizon. If you would invest  60.00  in Palisade Bio on July 18, 2025 and sell it today you would earn a total of  113.00  from holding Palisade Bio or generate 188.33% return on investment over 90 days.

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

SINTX Technologies  vs.  Palisade Bio

SINTX Technologies

Risk-Adjusted Performance

Fair

Over the last 90 days SINTX Technologies has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively weak basic indicators, SINTX Technologies unveiled solid returns over the last few months and may actually be approaching a breakup point.

Palisade Bio

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Palisade Bio are ranked lower than 12 (%) of all global equities and portfolios over the last 90 days. Despite fairly fragile essential indicators, Palisade Bio demonstrated solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with SINTX Technologies and Palisade Bio

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

The idea behind SINTX Technologies and Palisade Bio 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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.