Correlation Between Vivos Therapeutics and Cryoport

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

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

Diversification Opportunities for Vivos Therapeutics and Cryoport

0.66

Correlation Coefficient

Vivos Therapeutics  Cryoport

Poor diversification

The 3 months correlation between Vivos and Cryoport is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Vivos Therapeutics and Cryoport in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cryoport 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 Cryoport. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cryoport has no effect on the direction of Vivos Therapeutics i.e., Vivos Therapeutics and Cryoport go up and down completely randomly.

Pair Corralation between Vivos Therapeutics and Cryoport

Given the investment horizon of 90 days Vivos Therapeutics is expected to generate 1.41 times more return on investment than Cryoport. However, Vivos Therapeutics is 1.41 times more volatile than Cryoport. It trades about 0.15 of its potential returns per unit of risk. Cryoport is currently generating about 0.13 per unit of risk. If you would invest  273.00  in Vivos Therapeutics on May 1, 2025 and sell it today you would earn a total of  173.00  from holding Vivos Therapeutics or generate 63.37% return on investment over 90 days.

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

Vivos Therapeutics  vs.  Cryoport

Vivos Therapeutics

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Vivos Therapeutics are ranked lower than 11 (%) 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.

Cryoport

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Cryoport are ranked lower than 10 (%) of all global equities and portfolios over the last 90 days. In spite of fairly unsteady basic indicators, Cryoport showed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Vivos Therapeutics and Cryoport

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

The idea behind Vivos Therapeutics and Cryoport 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.