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Correlation Between C MER and KADIMASTEM

Analyzing existing cross correlation between C MER INDUSTRIES and KADIMASTEM. You can compare the effects of market volatilities on C MER and KADIMASTEM 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 C MER with a short position of KADIMASTEM. Check out your portfolio center. Please also check ongoing floating volatility patterns of C MER and KADIMASTEM.

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Diversification Opportunities for C MER and KADIMASTEM

C MER INDUSTRIES diversification synergy
0.92
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Almost no diversification

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

Pair Corralation between C MER and KADIMASTEM

Assuming 30 trading days horizon, C MER INDUSTRIES is expected to under-perform the KADIMASTEM. But the stock apears to be less risky and, when comparing its historical volatility, C MER INDUSTRIES is 1.33 times less risky than KADIMASTEM. The stock trades about -0.29 of its potential returns per unit of risk. The KADIMASTEM is currently generating about -0.09 of returns per unit of risk over similar time horizon. If you would invest  4,710  in KADIMASTEM on March 5, 2020 and sell it today you would lose (1,370)  from holding KADIMASTEM or give up 29.09% of portfolio value over 30 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

C MER INDUSTRIES  vs.  KADIMASTEM

 Performance (%) 
    
  Timeline 
C MER INDUSTRIES 
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C MER Risk-Adjusted Performance

Over the last 30 days C MER INDUSTRIES has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in May 2020. The current disturbance may also be a sign of long term up-swing for the company investors.
KADIMASTEM 
00

KADIMASTEM Risk-Adjusted Performance

Over the last 30 days KADIMASTEM has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in May 2020. The current disturbance may also be a sign of long term up-swing for the company investors.

C MER and KADIMASTEM Volatility Contrast

 Predicted Return Density 
    
  Returns 

C MER INDUSTRIES

Pair trading matchups for C MER

Check out your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.


 
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