Correlation Between Vivos Therapeutics and NanoVibronix

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

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

Diversification Opportunities for Vivos Therapeutics and NanoVibronix

-0.19

Correlation Coefficient

Vivos Therapeutics  NanoVibronix

Good diversification

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

Pair Corralation between Vivos Therapeutics and NanoVibronix

Given the investment horizon of 90 days Vivos Therapeutics is expected to under-perform the NanoVibronix. But the stock apears to be less risky and, when comparing its historical volatility, Vivos Therapeutics is 4.16 times less risky than NanoVibronix. The stock trades about -0.1 of its potential returns per unit of risk. The NanoVibronix is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest  410.00  in NanoVibronix on January 25, 2025 and sell it today you would earn a total of  180.00  from holding NanoVibronix or generate 43.9% return on investment over 90 days.

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

Vivos Therapeutics  vs.  NanoVibronix

Vivos Therapeutics

Risk-Adjusted Performance

Very Weak

Over the last 90 days Vivos Therapeutics has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fragile performance in the last few months, the Stock's basic indicators remain comparatively stable which may send shares a bit higher in May 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

NanoVibronix

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in NanoVibronix are ranked lower than 7 (%) of all global equities and portfolios over the last 90 days. In spite of fairly fragile basic indicators, NanoVibronix showed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Vivos Therapeutics and NanoVibronix

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

The idea behind Vivos Therapeutics and NanoVibronix 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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.