Correlation Analysis Between Iovance Biotherapeutics and BSE

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

 Predicted Return Density 
      Returns 

Iovance Biotherapeutics Inc  vs.  BSE

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Iovance Biotherapeutics is expected to under-perform the BSE. In addition to that, Iovance Biotherapeutics is 3.83 times more volatile than BSE. It trades about -0.06 of its total potential returns per unit of risk. BSE is currently generating about -0.22 per unit of volatility. If you would invest  3,959,208  in BSE on July 25, 2019 and sell it today you would lose (289,092)  from holding BSE or give up 7.3% of portfolio value over 30 days.

Pair Corralation between Iovance Biotherapeutics and BSE

0.54
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy97.73%
ValuesDaily Returns

Diversification Opportunities for Iovance Biotherapeutics and BSE

Iovance Biotherapeutics Inc diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Iovance Biotherapeutics Inc and BSE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BSE and Iovance Biotherapeutics 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 Iovance Biotherapeutics are associated (or correlated) with BSE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BSE has no effect on the direction of Iovance Biotherapeutics i.e. Iovance Biotherapeutics and BSE go up and down completely randomly.
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See also your portfolio center. Please also try Price Transformation module to use price transformation models to analyze depth of different equity instruments across global markets.


 
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