Correlation Between WORK Medical and BioAffinity Technologies,

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

By analyzing existing cross correlation between WORK Medical Technology and bioAffinity Technologies,, you can compare the effects of market volatilities on WORK Medical and BioAffinity Technologies, 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 WORK Medical with a short position of BioAffinity Technologies,. Check out your portfolio center. Please also check ongoing floating volatility patterns of WORK Medical and BioAffinity Technologies,.

Diversification Opportunities for WORK Medical and BioAffinity Technologies,

0.92

Correlation Coefficient

WORK Medical  BioAffinity Technologies,

Almost no diversification

The 3 months correlation between WORK and BioAffinity is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding WORK Medical Technology and bioAffinity Technologies, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on bioAffinity Technologies, and WORK 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 WORK Medical Technology are associated (or correlated) with BioAffinity Technologies,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of bioAffinity Technologies, has no effect on the direction of WORK Medical i.e., WORK Medical and BioAffinity Technologies, go up and down completely randomly.

Pair Corralation between WORK Medical and BioAffinity Technologies,

Considering the 90-day investment horizon WORK Medical Technology is expected to under-perform the BioAffinity Technologies,. In addition to that, WORK Medical is 1.12 times more volatile than bioAffinity Technologies,. It trades about -0.16 of its total potential returns per unit of risk. bioAffinity Technologies, is currently generating about -0.12 per unit of volatility. If you would invest  802.00  in bioAffinity Technologies, on August 19, 2025 and sell it today you would lose (618.00) from holding bioAffinity Technologies, or give up 77.06% of portfolio value over 90 days.

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

WORK Medical Technology  vs.  bioAffinity Technologies,

WORK Medical Technology

Risk-Adjusted Performance

Weakest

Over the last 90 days WORK Medical Technology has generated negative risk-adjusted returns adding no value to investors with long positions. Despite unfluctuating performance in the last few months, the Stock's basic indicators remain quite persistent which may send shares a bit higher in December 2025. The latest mess may also be a sign of long-standing up-swing for the company institutional investors.

bioAffinity Technologies,

Risk-Adjusted Performance

Weakest

Over the last 90 days bioAffinity Technologies, has generated negative risk-adjusted returns adding no value to investors with long positions. Despite conflicting performance in the last few months, the Stock's basic indicators remain nearly stable which may send shares a bit higher in December 2025. The current disturbance may also be a sign of long-run up-swing for the company stockholders.

Pair Trading with WORK Medical and BioAffinity Technologies,

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

The idea behind WORK Medical Technology and bioAffinity Technologies, 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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.