Correlation Analysis Between Infinity Pharmaceuticals and NantKwest

This module allows you to analyze existing cross correlation between Infinity Pharmaceuticals and NantKwest. You can compare the effects of market volatilities on Infinity Pharmaceuticals and NantKwest 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 Infinity Pharmaceuticals with a short position of NantKwest. See also your portfolio center. Please also check ongoing floating volatility patterns of Infinity Pharmaceuticals and NantKwest.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Infinity Pharmaceuticals Inc  vs.  NantKwest Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Infinity Pharmaceuticals is expected to generate 1.81 times more return on investment than NantKwest. However, Infinity Pharmaceuticals is 1.81 times more volatile than NantKwest. It trades about -0.08 of its potential returns per unit of risk. NantKwest is currently generating about -0.56 per unit of risk. If you would invest  199.00  in Infinity Pharmaceuticals on May 18, 2018 and sell it today you would lose (15.00)  from holding Infinity Pharmaceuticals or give up 7.54% of portfolio value over 30 days.

Pair Corralation between Infinity Pharmaceuticals and NantKwest

0.81
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Infinity Pharmaceuticals  
0 

Risk-Adjusted Performance

Over the last 30 days Infinity Pharmaceuticals has generated negative risk-adjusted returns adding no value to investors with long positions.
NantKwest  
0 

Risk-Adjusted Performance

Over the last 30 days NantKwest has generated negative risk-adjusted returns adding no value to investors with long positions.

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