Correlation Between Vivos Therapeutics and Concord Medical

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

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

Diversification Opportunities for Vivos Therapeutics and Concord Medical

-0.42

Correlation Coefficient

Vivos Therapeutics  Concord Medical

Very good diversification

The 3 months correlation between Vivos and Concord is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding Vivos Therapeutics and Concord Medical Services in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Concord Medical Services and Vivos Therapeutics 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 Vivos Therapeutics are associated (or correlated) with Concord Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Concord Medical Services has no effect on the direction of Vivos Therapeutics i.e., Vivos Therapeutics and Concord Medical go up and down completely randomly.

Pair Corralation between Vivos Therapeutics and Concord Medical

Given the investment horizon of 90 days Vivos Therapeutics is expected to generate 1.04 times more return on investment than Concord Medical. However, Vivos Therapeutics is 1.04 times more volatile than Concord Medical Services. It trades about 0.21 of its potential returns per unit of risk. Concord Medical Services is currently generating about 0.04 per unit of risk. If you would invest  263.00  in Vivos Therapeutics on April 25, 2025 and sell it today you would earn a total of  298.00  from holding Vivos Therapeutics or generate 113.31% return on investment over 90 days.

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

Vivos Therapeutics  vs.  Concord Medical Services

Vivos Therapeutics

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Vivos Therapeutics are ranked lower than 16 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively fragile basic indicators, Vivos Therapeutics unveiled solid returns over the last few months and may actually be approaching a breakup point.

Concord Medical Services

Risk-Adjusted Performance

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in Concord Medical Services are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. In spite of very uncertain fundamental indicators, Concord Medical displayed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Vivos Therapeutics and Concord Medical

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

The idea behind Vivos Therapeutics and Concord Medical Services 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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.