Correlation Between Union Medical and Advantex Marketing

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

By analyzing existing cross correlation between Union Medical Healthcare and Advantex Marketing International, you can compare the effects of market volatilities on Union Medical and Advantex Marketing 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 Union Medical with a short position of Advantex Marketing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Union Medical and Advantex Marketing.

Diversification Opportunities for Union Medical and Advantex Marketing

-1.0

Correlation Coefficient

Union Medical  Advantex Marketing

Pay attention - limited upside

The 3 months correlation between Union and Advantex is -1.0. Overlapping area represents the amount of risk that can be diversified away by holding Union Medical Healthcare and Advantex Marketing Internation in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Advantex Marketing and Union Medical 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 Union Medical Healthcare are associated (or correlated) with Advantex Marketing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Advantex Marketing has no effect on the direction of Union Medical i.e., Union Medical and Advantex Marketing go up and down completely randomly.

Pair Corralation between Union Medical and Advantex Marketing

If you would invest  0.28  in Advantex Marketing International on August 19, 2025 and sell it today you would earn a total of  0.00  from holding Advantex Marketing International or generate 0.0% return on investment over 90 days.

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

Union Medical Healthcare  vs.  Advantex Marketing Internation

Union Medical Healthcare

Risk-Adjusted Performance

Weakest

Over the last 90 days Union Medical Healthcare has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable essential indicators, Union Medical is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Advantex Marketing

Risk-Adjusted Performance

Weakest

Over the last 90 days Advantex Marketing International has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable primary indicators, Advantex Marketing is not utilizing all of its potentials. The newest stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with Union Medical and Advantex Marketing

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

The idea behind Union Medical Healthcare and Advantex Marketing International 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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.