Correlation Between Surrozen Warrant and Repligen

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

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

Diversification Opportunities for Surrozen Warrant and Repligen

0.19

Correlation Coefficient

Surrozen Warrant  Repligen

Average diversification

The 3 months correlation between Surrozen and Repligen is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding Surrozen Warrant and Repligen in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Repligen and Surrozen Warrant 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 Surrozen Warrant are associated (or correlated) with Repligen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Repligen has no effect on the direction of Surrozen Warrant i.e., Surrozen Warrant and Repligen go up and down completely randomly.

Pair Corralation between Surrozen Warrant and Repligen

Assuming the 90 days horizon Surrozen Warrant is expected to generate 5.11 times more return on investment than Repligen. However, Surrozen Warrant is 5.11 times more volatile than Repligen. It trades about 0.01 of its potential returns per unit of risk. Repligen is currently generating about -0.04 per unit of risk. If you would invest  2.30  in Surrozen Warrant on May 6, 2025 and sell it today you would lose (0.51) from holding Surrozen Warrant or give up 22.17% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Insignificant
Accuracy	48.39%
Values	Daily Returns

Surrozen Warrant  vs.  Repligen

Surrozen Warrant

Risk-Adjusted Performance

Very Weak

Over the last 90 days Surrozen Warrant has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly unfluctuating basic indicators, Surrozen Warrant may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Repligen

Risk-Adjusted Performance

Very Weak

Over the last 90 days Repligen has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest fragile performance, the Stock's technical and fundamental indicators remain healthy and the recent disarray on Wall Street may also be a sign of long period gains for the firm investors.

Pair Trading with Surrozen Warrant and Repligen

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

The idea behind Surrozen Warrant and Repligen 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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.