Correlation Between SurModics and BioAffinity Technologies,

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

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

Diversification Opportunities for SurModics and BioAffinity Technologies,

0.56

Correlation Coefficient

SurModics  BioAffinity Technologies,

Very weak diversification

The 3 months correlation between SurModics and BioAffinity is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding SurModics and bioAffinity Technologies, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on bioAffinity Technologies, and SurModics 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 SurModics are associated (or correlated) with BioAffinity Technologies,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of bioAffinity Technologies, has no effect on the direction of SurModics i.e., SurModics and BioAffinity Technologies, go up and down completely randomly.

Pair Corralation between SurModics and BioAffinity Technologies,

Given the investment horizon of 90 days SurModics is expected to generate 0.17 times more return on investment than BioAffinity Technologies,. However, SurModics is 5.85 times less risky than BioAffinity Technologies,. It trades about 0.23 of its potential returns per unit of risk. bioAffinity Technologies, is currently generating about 0.03 per unit of risk. If you would invest  2,697  in SurModics on May 4, 2025 and sell it today you would earn a total of  906.00  from holding SurModics or generate 33.59% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Weak
Accuracy	98.41%
Values	Daily Returns

SurModics  vs.  bioAffinity Technologies,

SurModics

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in SurModics are ranked lower than 17 (%) of all global equities and portfolios over the last 90 days. In spite of fairly unsteady fundamental indicators, SurModics showed solid returns over the last few months and may actually be approaching a breakup point.

bioAffinity Technologies,

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in bioAffinity Technologies, are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, BioAffinity Technologies, reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with SurModics and BioAffinity Technologies,

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

The idea behind SurModics and bioAffinity Technologies, 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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.