Correlation Analysis Between Cadus and Regeneron Pharmaceuticals

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

Cadus Corp.  vs.  Regeneron Pharmaceuticals Inc

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  37,480  in Regeneron Pharmaceuticals on August 20, 2018 and sell it today you would earn a total of  1,353  from holding Regeneron Pharmaceuticals or generate 3.61% return on investment over 30 days.

Pair Corralation between Cadus and Regeneron Pharmaceuticals

0.29
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy13.64%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Cadus  
0 

Risk-Adjusted Performance

Over the last 30 days Cadus Corporation has generated negative risk-adjusted returns adding no value to investors with long positions.
Regeneron Pharmaceuticals  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Regeneron Pharmaceuticals are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

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Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1161.22

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