Labcorp Holdings Inc. vs Natera Inc.
WatchlistLH / NTRAPrices through Oct 22, 2026
Why these are rivals: #1 and #3 by market value ($58B vs $26B) with SEC SIC 8071 (Services-Medical Laboratories).
Rivals, but right now the price gap does not have a measured habit of closing, so there is no paper idea, whatever the gap.
- Co-movement: daily return correlation, 252 sessions: 0.23 (needs >= 0.60)
- Mean reversion: ADF t-statistic of the spread: -0.98 (needs <= -2.873 (5% critical value))
Business leadership
LH is the larger business
Annual revenue reported to the SEC. Scale, not market share.
| Year | LH | NTRA | Larger |
|---|---|---|---|
| 2025 | $14.0B | $2.3B | LH |
| 2024 | $13.0B | $1.7B | LH |
| 2023 | $12.2B | $1.1B | LH |
| 2022 | $11.9B | $820M | LH |
| 2021 | $13.1B | $625M | LH |
| 2020 | $14.0B | $391M | LH |
LH led in every year with figures for both. Market value: LH $25.9B, NTRA $57.6B.
Stock leadership
NTRA is ahead now
Measured against the pair's own last 252 trading days.
NTRA leads LH by 1.97 standard deviations: +38.4% over its usual price ratio. 0 lead switches in the last year.
| Price change | 3 mo | 6 mo | 12 mo |
|---|---|---|---|
| LH | +11.2% | +24.5% | +16.1% |
| NTRA | +53.2% | +99.5% | +114.8% |
Relationship
Not a measured twin today
Only these tests can make a pair tradable on paper.
- Pass
- Aligned sessions: 2521 (needs >= 254)
- Fail
- Co-movement: daily return correlation, 252 sessions: 0.23 (needs >= 0.60)
- Fail
- Mean reversion: ADF t-statistic of the spread: -0.98 (needs <= -2.873 (5% critical value))
- Pass
- Speed: half-life of the spread, sessions: 52.66 (needs <= 63)
- Data
- Both stocks current
The twins over two years
Prices side by side, and the gap between them
LH Labcorp Holdings Inc. NTRA Natera Inc.Price index, 100 = 2024-10-18. Tint = which stock is ahead of the pair's usual 1-year relationship (z beyond +/-0.5).
Spread z-score: LH relative to NTRA, against the 252 sessions before each day. Above 0: LH ahead; below 0: NTRA ahead. Lines at +/-2 (idea) and +/-4 (stop).
Data table (504 sessions)
| Date | LH index | NTRA index | z | Ahead |
|---|---|---|---|---|
| 2026-10-22 | 152.91 | 327.92 | -1.97 | NTRA ahead |
| 2026-10-21 | 150.04 | 337.73 | -2.29 | NTRA ahead |
| 2026-10-20 | 149.76 | 331.63 | -2.21 | NTRA ahead |
| 2026-10-19 | 147.76 | 326.32 | -2.21 | NTRA ahead |
| 2026-10-16 | 147.36 | 321.44 | -2.16 | NTRA ahead |
| 2026-10-15 | 150.66 | 330.71 | -2.22 | NTRA ahead |
| 2026-10-14 | 147.07 | 322.51 | -2.23 | NTRA ahead |
| 2026-10-13 | 145.36 | 323.25 | -2.34 | NTRA ahead |
| 2026-10-12 | 146.23 | 324.98 | -2.36 | NTRA ahead |
| 2026-10-09 | 144.67 | 327.38 | -2.50 | NTRA ahead |
| 2026-10-08 | 145.62 | 319.27 | -2.32 | NTRA ahead |
| 2026-10-07 | 144.58 | 323.17 | -2.47 | NTRA ahead |
| 2026-10-06 | 144.46 | 327.33 | -2.58 | NTRA ahead |
| 2026-10-05 | 143.05 | 347.75 | -3.07 | NTRA ahead |
| 2026-10-02 | 142.97 | 335.25 | -2.87 | NTRA ahead |
| 2026-10-01 | 141.17 | 333.72 | -2.96 | NTRA ahead |
| 2026-09-30 | 142.80 | 337.67 | -3.00 | NTRA ahead |
| 2026-09-29 | 143.12 | 338.66 | -3.05 | NTRA ahead |
| 2026-09-28 | 143.47 | 336.41 | -3.03 | NTRA ahead |
| 2026-09-25 | 143.50 | 337.06 | -3.09 | NTRA ahead |
| 2026-09-24 | 143.18 | 333.98 | -3.10 | NTRA ahead |
| 2026-09-23 | 140.88 | 319.27 | -2.96 | NTRA ahead |
| 2026-09-22 | 144.39 | 319.36 | -2.85 | NTRA ahead |
| 2026-09-21 | 148.76 | 302.81 | -2.32 | NTRA ahead |
| 2026-09-18 | 148.64 | 301.79 | -2.32 | NTRA ahead |
| 2026-09-17 | 149.57 | 299.27 | -2.25 | NTRA ahead |
| 2026-09-16 | 150.40 | 282.14 | -1.82 | NTRA ahead |
| 2026-09-15 | 150.15 | 286.58 | -1.95 | NTRA ahead |
| 2026-09-14 | 146.13 | 279.24 | -1.98 | NTRA ahead |
| 2026-09-11 | 144.39 | 268.73 | -1.81 | NTRA ahead |
| 2026-09-10 | 142.26 | 266.45 | -1.87 | NTRA ahead |
| 2026-09-09 | 148.82 | 269.86 | -1.66 | NTRA ahead |
| 2026-09-08 | 150.56 | 264.82 | -1.46 | NTRA ahead |
| 2026-09-04 | 151.50 | 268.12 | -1.51 | NTRA ahead |
| 2026-09-03 | 153.64 | 267.70 | -1.41 | NTRA ahead |
| 2026-09-02 | 153.71 | 265.66 | -1.37 | NTRA ahead |
| 2026-09-01 | 151.83 | 262.06 | -1.37 | NTRA ahead |
| 2026-08-31 | 154.17 | 263.04 | -1.30 | NTRA ahead |
| 2026-08-28 | 155.31 | 266.55 | -1.34 | NTRA ahead |
| 2026-08-27 | 155.97 | 276.72 | -1.58 | NTRA ahead |
| 2026-08-26 | 155.59 | 276.51 | -1.60 | NTRA ahead |
| 2026-08-25 | 156.50 | 275.09 | -1.53 | NTRA ahead |
| 2026-08-24 | 157.27 | 267.75 | -1.33 | NTRA ahead |
| 2026-08-21 | 155.88 | 271.27 | -1.48 | NTRA ahead |
| 2026-08-20 | 154.24 | 265.39 | -1.41 | NTRA ahead |
| 2026-08-19 | 153.14 | 265.58 | -1.48 | NTRA ahead |
| 2026-08-18 | 149.32 | 254.65 | -1.38 | NTRA ahead |
| 2026-08-17 | 149.85 | 256.68 | -1.41 | NTRA ahead |
| 2026-08-14 | 147.44 | 253.21 | -1.44 | NTRA ahead |
| 2026-08-13 | 149.51 | 253.91 | -1.37 | NTRA ahead |
| 2026-08-12 | 149.92 | 258.14 | -1.47 | NTRA ahead |
| 2026-08-11 | 149.43 | 255.49 | -1.44 | NTRA ahead |
| 2026-08-10 | 148.91 | 260.09 | -1.58 | NTRA ahead |
| 2026-08-07 | 147.92 | 263.15 | -1.70 | NTRA ahead |
| 2026-08-06 | 146.70 | 216.81 | -0.53 | NTRA ahead |
| 2026-08-05 | 145.51 | 224.36 | -0.80 | NTRA ahead |
| 2026-08-04 | 144.76 | 224.83 | -0.85 | NTRA ahead |
| 2026-08-03 | 142.48 | 220.88 | -0.84 | NTRA ahead |
| 2026-07-31 | 143.30 | 218.76 | -0.76 | NTRA ahead |
| 2026-07-30 | 146.23 | 220.31 | -0.68 | NTRA ahead |
| 2026-07-29 | 142.35 | 207.37 | -0.49 | near the usual relationship |
| 2026-07-28 | 145.63 | 206.06 | -0.32 | near the usual relationship |
| 2026-07-27 | 139.58 | 210.81 | -0.71 | NTRA ahead |
| 2026-07-24 | 137.54 | 214.04 | -0.89 | NTRA ahead |
| 2026-07-23 | 134.88 | 216.25 | -1.07 | NTRA ahead |
| 2026-07-22 | 130.44 | 215.87 | -1.26 | NTRA ahead |
| 2026-07-21 | 129.49 | 218.28 | -1.38 | NTRA ahead |
| 2026-07-20 | 130.45 | 214.57 | -1.24 | NTRA ahead |
| 2026-07-17 | 131.33 | 221.72 | -1.41 | NTRA ahead |
| 2026-07-16 | 130.67 | 220.45 | -1.41 | NTRA ahead |
| 2026-07-15 | 126.06 | 226.61 | -1.80 | NTRA ahead |
| 2026-07-14 | 127.77 | 222.76 | -1.64 | NTRA ahead |
| 2026-07-13 | 128.23 | 222.95 | -1.64 | NTRA ahead |
| 2026-07-10 | 128.29 | 220.55 | -1.59 | NTRA ahead |
| 2026-07-09 | 128.67 | 230.27 | -1.84 | NTRA ahead |
| 2026-07-08 | 128.72 | 224.17 | -1.70 | NTRA ahead |
| 2026-07-07 | 131.56 | 229.80 | -1.73 | NTRA ahead |
| 2026-07-06 | 131.80 | 231.86 | -1.79 | NTRA ahead |
| 2026-07-02 | 133.00 | 228.20 | -1.66 | NTRA ahead |
| 2026-07-01 | 131.57 | 225.71 | -1.68 | NTRA ahead |
| 2026-06-30 | 129.77 | 221.77 | -1.67 | NTRA ahead |
| 2026-06-29 | 129.57 | 222.48 | -1.72 | NTRA ahead |
| 2026-06-26 | 125.81 | 213.98 | -1.68 | NTRA ahead |
| 2026-06-25 | 123.44 | 213.02 | -1.78 | NTRA ahead |
| 2026-06-24 | 122.90 | 212.39 | -1.81 | NTRA ahead |
| 2026-06-23 | 119.85 | 191.80 | -1.35 | NTRA ahead |
| 2026-06-22 | 117.92 | 186.93 | -1.31 | NTRA ahead |
| 2026-06-18 | 118.56 | 189.06 | -1.35 | NTRA ahead |
| 2026-06-17 | 120.29 | 185.00 | -1.14 | NTRA ahead |
| 2026-06-16 | 122.70 | 179.83 | -0.85 | NTRA ahead |
| 2026-06-15 | 122.83 | 177.26 | -0.76 | NTRA ahead |
| 2026-06-12 | 123.35 | 173.26 | -0.60 | NTRA ahead |
| 2026-06-11 | 122.94 | 179.11 | -0.83 | NTRA ahead |
| 2026-06-10 | 124.50 | 176.88 | -0.68 | NTRA ahead |
| 2026-06-09 | 125.71 | 182.04 | -0.80 | NTRA ahead |
| 2026-06-08 | 121.43 | 174.40 | -0.76 | NTRA ahead |
| 2026-06-05 | 122.89 | 175.91 | -0.74 | NTRA ahead |
| 2026-06-04 | 120.95 | 181.45 | -1.04 | NTRA ahead |
| 2026-06-03 | 120.00 | 173.08 | -0.81 | NTRA ahead |
| 2026-06-02 | 119.43 | 173.80 | -0.87 | NTRA ahead |
| 2026-06-01 | 119.05 | 178.77 | -1.07 | NTRA ahead |
| 2026-05-29 | 120.53 | 182.49 | -1.13 | NTRA ahead |
| 2026-05-28 | 121.77 | 174.79 | -0.80 | NTRA ahead |
| 2026-05-27 | 119.69 | 165.94 | -0.59 | NTRA ahead |
| 2026-05-26 | 119.78 | 164.14 | -0.53 | NTRA ahead |
| 2026-05-22 | 120.47 | 166.00 | -0.57 | NTRA ahead |
| 2026-05-21 | 118.53 | 166.41 | -0.69 | NTRA ahead |
| 2026-05-20 | 119.30 | 167.42 | -0.69 | NTRA ahead |
| 2026-05-19 | 117.57 | 160.16 | -0.51 | NTRA ahead |
| 2026-05-18 | 118.45 | 157.30 | -0.36 | near the usual relationship |
| 2026-05-15 | 116.05 | 152.25 | -0.29 | near the usual relationship |
| 2026-05-14 | 117.73 | 160.87 | -0.54 | NTRA ahead |
| 2026-05-13 | 117.91 | 159.58 | -0.49 | near the usual relationship |
| 2026-05-12 | 119.27 | 166.84 | -0.70 | NTRA ahead |
| 2026-05-11 | 118.22 | 162.70 | -0.60 | NTRA ahead |
| 2026-05-08 | 117.77 | 158.69 | -0.48 | near the usual relationship |
| 2026-05-07 | 119.59 | 179.59 | -1.15 | NTRA ahead |
| 2026-05-06 | 119.08 | 175.73 | -1.05 | NTRA ahead |
| 2026-05-05 | 119.17 | 168.93 | -0.81 | NTRA ahead |
| 2026-05-04 | 117.26 | 172.84 | -1.06 | NTRA ahead |
| 2026-05-01 | 118.57 | 169.35 | -0.87 | NTRA ahead |
| 2026-04-30 | 119.02 | 168.43 | -0.82 | NTRA ahead |
| 2026-04-29 | 119.17 | 159.11 | -0.46 | near the usual relationship |
| 2026-04-28 | 120.30 | 163.54 | -0.58 | NTRA ahead |
| 2026-04-27 | 122.09 | 166.99 | -0.62 | NTRA ahead |
| 2026-04-24 | 122.26 | 166.46 | -0.60 | NTRA ahead |
| 2026-04-23 | 122.78 | 164.33 | -0.49 | near the usual relationship |
| 2026-04-22 | 126.35 | 169.75 | -0.52 | NTRA ahead |
| 2026-04-21 | 126.72 | 167.83 | -0.44 | near the usual relationship |
| 2026-04-20 | 124.76 | 169.72 | -0.61 | NTRA ahead |
| 2026-04-17 | 125.45 | 170.26 | -0.59 | NTRA ahead |
| 2026-04-16 | 123.45 | 160.22 | -0.32 | near the usual relationship |
| 2026-04-15 | 123.62 | 169.27 | -0.66 | NTRA ahead |
| 2026-04-14 | 124.61 | 175.36 | -0.83 | NTRA ahead |
| 2026-04-13 | 122.44 | 164.95 | -0.56 | NTRA ahead |
| 2026-04-10 | 120.93 | 157.70 | -0.37 | near the usual relationship |
| 2026-04-09 | 126.64 | 165.85 | -0.40 | near the usual relationship |
| 2026-04-08 | 127.32 | 172.25 | -0.60 | NTRA ahead |
| 2026-04-07 | 124.75 | 170.97 | -0.69 | NTRA ahead |
| 2026-04-06 | 127.20 | 167.38 | -0.44 | near the usual relationship |
| 2026-04-02 | 126.86 | 169.92 | -0.56 | NTRA ahead |
| 2026-04-01 | 126.40 | 166.02 | -0.44 | near the usual relationship |
| 2026-03-31 | 123.65 | 163.39 | -0.48 | near the usual relationship |
| 2026-03-30 | 122.17 | 152.65 | -0.14 | near the usual relationship |
| 2026-03-27 | 122.45 | 149.22 | +0.01 | near the usual relationship |
| 2026-03-26 | 124.38 | 160.25 | -0.33 | near the usual relationship |
| 2026-03-25 | 123.29 | 161.25 | -0.43 | near the usual relationship |
| 2026-03-24 | 123.34 | 158.92 | -0.34 | near the usual relationship |
| 2026-03-23 | 122.55 | 163.47 | -0.56 | NTRA ahead |
| 2026-03-20 | 121.89 | 159.54 | -0.45 | near the usual relationship |
| 2026-03-19 | 122.39 | 165.63 | -0.66 | NTRA ahead |
| 2026-03-18 | 123.21 | 161.59 | -0.47 | near the usual relationship |
| 2026-03-17 | 125.42 | 162.08 | -0.38 | near the usual relationship |
| 2026-03-16 | 123.67 | 161.50 | -0.45 | near the usual relationship |
| 2026-03-13 | 122.26 | 153.47 | -0.21 | near the usual relationship |
| 2026-03-12 | 121.85 | 155.48 | -0.31 | near the usual relationship |
| 2026-03-11 | 125.33 | 160.63 | -0.35 | near the usual relationship |
| 2026-03-10 | 124.53 | 162.54 | -0.46 | near the usual relationship |
| 2026-03-09 | 126.81 | 167.66 | -0.55 | NTRA ahead |
| 2026-03-06 | 124.98 | 161.87 | -0.43 | near the usual relationship |
| 2026-03-05 | 127.88 | 161.06 | -0.26 | near the usual relationship |
| 2026-03-04 | 130.16 | 165.87 | -0.34 | near the usual relationship |
| 2026-03-03 | 131.15 | 169.15 | -0.42 | near the usual relationship |
| 2026-03-02 | 132.77 | 163.54 | -0.14 | near the usual relationship |
| 2026-02-27 | 133.99 | 169.97 | -0.32 | near the usual relationship |
| 2026-02-26 | 133.30 | 176.55 | -0.59 | NTRA ahead |
| 2026-02-25 | 131.06 | 173.06 | -0.57 | NTRA ahead |
| 2026-02-24 | 133.07 | 171.18 | -0.42 | near the usual relationship |
| 2026-02-23 | 132.22 | 171.04 | -0.45 | near the usual relationship |
| 2026-02-20 | 131.01 | 173.30 | -0.59 | NTRA ahead |
| 2026-02-19 | 130.92 | 176.76 | -0.72 | NTRA ahead |
| 2026-02-18 | 129.19 | 176.09 | -0.78 | NTRA ahead |
| 2026-02-17 | 128.22 | 172.59 | -0.71 | NTRA ahead |
| 2026-02-13 | 130.99 | 168.49 | -0.43 | near the usual relationship |
| 2026-02-12 | 128.89 | 169.80 | -0.58 | NTRA ahead |
| 2026-02-11 | 134.35 | 173.58 | -0.46 | near the usual relationship |
| 2026-02-10 | 131.85 | 172.92 | -0.55 | NTRA ahead |
| 2026-02-09 | 126.99 | 172.04 | -0.75 | NTRA ahead |
| 2026-02-06 | 128.47 | 165.88 | -0.46 | near the usual relationship |
| 2026-02-05 | 128.95 | 161.01 | -0.26 | near the usual relationship |
| 2026-02-04 | 127.99 | 167.98 | -0.56 | NTRA ahead |
| 2026-02-03 | 126.15 | 186.01 | -1.28 | NTRA ahead |
| 2026-02-02 | 125.27 | 188.81 | -1.42 | NTRA ahead |
| 2026-01-30 | 125.84 | 188.84 | -1.41 | NTRA ahead |
| 2026-01-29 | 125.05 | 189.12 | -1.47 | NTRA ahead |
| 2026-01-28 | 124.22 | 192.75 | -1.64 | NTRA ahead |
| 2026-01-27 | 125.65 | 196.36 | -1.70 | NTRA ahead |
| 2026-01-26 | 123.92 | 197.21 | -1.83 | NTRA ahead |
| 2026-01-23 | 123.59 | 197.37 | -1.88 | NTRA ahead |
| 2026-01-22 | 125.12 | 198.46 | -1.85 | NTRA ahead |
| 2026-01-21 | 124.73 | 198.35 | -1.89 | NTRA ahead |
| 2026-01-20 | 125.74 | 191.87 | -1.64 | NTRA ahead |
| 2026-01-16 | 125.54 | 188.93 | -1.56 | NTRA ahead |
| 2026-01-15 | 124.62 | 196.36 | -1.88 | NTRA ahead |
| 2026-01-14 | 121.43 | 195.42 | -2.03 | NTRA ahead |
| 2026-01-13 | 117.71 | 194.35 | -2.23 | NTRA ahead |
| 2026-01-12 | 116.04 | 192.36 | -2.28 | NTRA ahead |
| 2026-01-09 | 116.70 | 191.43 | -2.24 | NTRA ahead |
| 2026-01-08 | 118.03 | 195.72 | -2.34 | NTRA ahead |
| 2026-01-07 | 117.59 | 207.84 | -2.82 | NTRA ahead |
| 2026-01-06 | 120.68 | 203.22 | -2.53 | NTRA ahead |
| 2026-01-05 | 117.34 | 193.97 | -2.44 | NTRA ahead |
| 2026-01-02 | 116.63 | 186.96 | -2.25 | NTRA ahead |
| 2025-12-31 | 116.27 | 187.17 | -2.31 | NTRA ahead |
| 2025-12-30 | 117.29 | 187.89 | -2.30 | NTRA ahead |
| 2025-12-29 | 117.24 | 188.97 | -2.38 | NTRA ahead |
| 2025-12-26 | 117.67 | 190.96 | -2.47 | NTRA ahead |
| 2025-12-24 | 117.93 | 192.43 | -2.55 | NTRA ahead |
| 2025-12-23 | 117.32 | 192.32 | -2.62 | NTRA ahead |
| 2025-12-22 | 118.21 | 192.46 | -2.62 | NTRA ahead |
| 2025-12-19 | 116.80 | 189.51 | -2.63 | NTRA ahead |
| 2025-12-18 | 116.80 | 183.61 | -2.41 | NTRA ahead |
| 2025-12-17 | 118.56 | 184.22 | -2.35 | NTRA ahead |
| 2025-12-16 | 119.62 | 185.78 | -2.37 | NTRA ahead |
| 2025-12-15 | 122.04 | 186.60 | -2.27 | NTRA ahead |
| 2025-12-12 | 122.44 | 189.50 | -2.40 | NTRA ahead |
| 2025-12-11 | 122.69 | 188.77 | -2.39 | NTRA ahead |
| 2025-12-10 | 121.42 | 190.47 | -2.58 | NTRA ahead |
| 2025-12-09 | 119.60 | 192.43 | -2.84 | NTRA ahead |
| 2025-12-08 | 120.47 | 195.38 | -2.96 | NTRA ahead |
| 2025-12-05 | 119.75 | 199.80 | -3.29 | NTRA ahead |
| 2025-12-04 | 121.18 | 197.76 | -3.16 | NTRA ahead |
| 2025-12-03 | 123.17 | 194.62 | -2.92 | NTRA ahead |
| 2025-12-02 | 123.25 | 193.33 | -2.91 | NTRA ahead |
| 2025-12-01 | 124.08 | 191.38 | -2.80 | NTRA ahead |
| 2025-11-28 | 124.57 | 195.11 | -3.01 | NTRA ahead |
| 2025-11-26 | 124.33 | 193.73 | -3.02 | NTRA ahead |
| 2025-11-25 | 125.05 | 193.21 | -2.99 | NTRA ahead |
| 2025-11-24 | 122.96 | 194.92 | -3.32 | NTRA ahead |
| 2025-11-21 | 123.11 | 188.42 | -3.03 | NTRA ahead |
| 2025-11-20 | 121.18 | 184.27 | -3.02 | NTRA ahead |
| 2025-11-19 | 120.75 | 178.39 | -2.77 | NTRA ahead |
| 2025-11-18 | 120.41 | 174.55 | -2.62 | NTRA ahead |
| 2025-11-17 | 121.13 | 168.33 | -2.19 | NTRA ahead |
| 2025-11-14 | 123.69 | 166.90 | -1.89 | NTRA ahead |
| 2025-11-13 | 124.15 | 163.95 | -1.66 | NTRA ahead |
| 2025-11-12 | 123.28 | 171.16 | -2.24 | NTRA ahead |
| 2025-11-11 | 124.30 | 168.89 | -2.02 | NTRA ahead |
| 2025-11-10 | 121.02 | 168.82 | -2.33 | NTRA ahead |
| 2025-11-07 | 117.12 | 163.05 | -2.33 | NTRA ahead |
| 2025-11-06 | 114.31 | 162.16 | -2.58 | NTRA ahead |
| 2025-11-05 | 116.18 | 163.33 | -2.51 | NTRA ahead |
| 2025-11-04 | 116.94 | 160.50 | -2.26 | NTRA ahead |
| 2025-11-03 | 119.50 | 161.95 | -2.14 | NTRA ahead |
| 2025-10-31 | 117.70 | 162.52 | -2.38 | NTRA ahead |
| 2025-10-30 | 116.94 | 157.86 | -2.14 | NTRA ahead |
| 2025-10-29 | 115.00 | 157.52 | -2.33 | NTRA ahead |
| 2025-10-28 | 120.36 | 154.88 | -1.63 | NTRA ahead |
| 2025-10-27 | 127.76 | 157.04 | -1.12 | NTRA ahead |
| 2025-10-24 | 129.53 | 157.28 | -0.99 | NTRA ahead |
| 2025-10-23 | 131.62 | 159.31 | -0.96 | NTRA ahead |
| 2025-10-22 | 131.08 | 153.61 | -0.60 | NTRA ahead |
| 2025-10-21 | 131.68 | 152.68 | -0.49 | near the usual relationship |
| 2025-10-20 | 134.83 | 154.08 | -0.33 | near the usual relationship |
| 2025-10-17 | 132.52 | 148.44 | -0.11 | near the usual relationship |
| 2025-10-16 | 131.49 | 147.50 | -0.13 | near the usual relationship |
| 2025-10-15 | 131.04 | 146.58 | -0.10 | near the usual relationship |
| 2025-10-14 | 129.67 | 141.18 | +0.20 | near the usual relationship |
| 2025-10-13 | 128.21 | 142.30 | -0.02 | near the usual relationship |
| 2025-10-10 | 128.79 | 138.29 | +0.35 | near the usual relationship |
| 2025-10-09 | 128.74 | 141.38 | +0.10 | near the usual relationship |
| 2025-10-08 | 128.61 | 140.60 | +0.15 | near the usual relationship |
| 2025-10-07 | 129.59 | 137.69 | +0.46 | near the usual relationship |
| 2025-10-06 | 127.47 | 139.20 | +0.16 | near the usual relationship |
| 2025-10-03 | 128.35 | 136.72 | +0.43 | near the usual relationship |
| 2025-10-02 | 129.51 | 130.89 | +1.01 | LH ahead |
| 2025-10-01 | 129.33 | 132.03 | +0.90 | LH ahead |
| 2025-09-30 | 133.04 | 131.51 | +1.25 | LH ahead |
| 2025-09-29 | 131.04 | 133.24 | +0.94 | LH ahead |
| 2025-09-26 | 130.05 | 133.15 | +0.86 | LH ahead |
| 2025-09-25 | 127.98 | 133.71 | +0.63 | LH ahead |
| 2025-09-24 | 129.47 | 133.91 | +0.74 | LH ahead |
| 2025-09-23 | 129.74 | 141.20 | +0.18 | near the usual relationship |
| 2025-09-22 | 129.26 | 146.40 | -0.26 | near the usual relationship |
| 2025-09-19 | 128.50 | 147.97 | -0.45 | near the usual relationship |
| 2025-09-18 | 128.45 | 146.94 | -0.38 | near the usual relationship |
| 2025-09-17 | 127.95 | 143.33 | -0.16 | near the usual relationship |
| 2025-09-16 | 127.03 | 142.98 | -0.21 | near the usual relationship |
| 2025-09-15 | 127.64 | 140.65 | +0.01 | near the usual relationship |
| 2025-09-12 | 128.82 | 137.67 | +0.34 | near the usual relationship |
| 2025-09-11 | 129.64 | 142.00 | +0.06 | near the usual relationship |
| 2025-09-10 | 126.50 | 138.72 | +0.04 | near the usual relationship |
| 2025-09-09 | 128.89 | 144.09 | -0.17 | near the usual relationship |
| 2025-09-08 | 128.47 | 136.76 | +0.33 | near the usual relationship |
| 2025-09-05 | 129.15 | 137.27 | +0.34 | near the usual relationship |
| 2025-09-04 | 127.56 | 136.08 | +0.29 | near the usual relationship |
| 2025-09-03 | 126.91 | 136.87 | +0.17 | near the usual relationship |
| 2025-09-02 | 126.89 | 138.35 | +0.05 | near the usual relationship |
| 2025-08-29 | 128.84 | 137.46 | +0.26 | near the usual relationship |
| 2025-08-28 | 127.58 | 137.16 | +0.18 | near the usual relationship |
| 2025-08-27 | 129.44 | 133.20 | +0.60 | LH ahead |
| 2025-08-26 | 129.05 | 135.38 | +0.41 | near the usual relationship |
| 2025-08-25 | 127.96 | 132.74 | +0.51 | LH ahead |
| 2025-08-22 | 128.92 | 135.29 | +0.39 | near the usual relationship |
| 2025-08-21 | 128.17 | 132.31 | +0.55 | LH ahead |
| 2025-08-20 | 128.89 | 131.24 | +0.68 | LH ahead |
| 2025-08-19 | 127.81 | 130.82 | +0.62 | LH ahead |
| 2025-08-18 | 125.36 | 131.66 | +0.37 | near the usual relationship |
| 2025-08-15 | 125.31 | 133.19 | +0.25 | near the usual relationship |
| 2025-08-14 | 125.71 | 129.44 | +0.54 | LH ahead |
| 2025-08-13 | 126.31 | 128.84 | +0.63 | LH ahead |
| 2025-08-12 | 124.81 | 130.56 | +0.37 | near the usual relationship |
| 2025-08-11 | 124.05 | 128.30 | +0.46 | near the usual relationship |
| 2025-08-08 | 123.21 | 124.14 | +0.69 | LH ahead |
| 2025-08-07 | 120.48 | 115.26 | +1.13 | LH ahead |
| 2025-08-06 | 120.89 | 112.85 | +1.31 | LH ahead |
| 2025-08-05 | 122.11 | 114.48 | +1.25 | LH ahead |
| 2025-08-04 | 122.28 | 111.58 | +1.47 | LH ahead |
| 2025-08-01 | 121.19 | 109.95 | +1.51 | LH ahead |
| 2025-07-31 | 120.54 | 109.20 | +1.51 | LH ahead |
| 2025-07-30 | 122.31 | 115.16 | +1.18 | LH ahead |
| 2025-07-29 | 121.30 | 110.98 | +1.41 | LH ahead |
| 2025-07-28 | 121.37 | 112.75 | +1.28 | LH ahead |
| 2025-07-25 | 122.80 | 113.48 | +1.32 | LH ahead |
| 2025-07-24 | 124.06 | 115.25 | +1.27 | LH ahead |
| 2025-07-23 | 116.10 | 112.60 | +0.91 | LH ahead |
| 2025-07-22 | 116.82 | 114.31 | +0.82 | LH ahead |
| 2025-07-21 | 112.64 | 114.89 | +0.47 | near the usual relationship |
| 2025-07-18 | 112.95 | 113.48 | +0.59 | LH ahead |
| 2025-07-17 | 114.58 | 117.14 | +0.45 | near the usual relationship |
| 2025-07-16 | 114.00 | 121.24 | +0.12 | near the usual relationship |
| 2025-07-15 | 113.85 | 122.43 | +0.02 | near the usual relationship |
| 2025-07-14 | 115.77 | 129.23 | -0.29 | near the usual relationship |
| 2025-07-11 | 115.69 | 131.07 | -0.41 | near the usual relationship |
| 2025-07-10 | 117.55 | 133.46 | -0.43 | near the usual relationship |
| 2025-07-09 | 120.07 | 132.15 | -0.18 | near the usual relationship |
| 2025-07-08 | 119.32 | 129.48 | -0.07 | near the usual relationship |
| 2025-07-07 | 119.51 | 129.65 | -0.07 | near the usual relationship |
| 2025-07-03 | 121.37 | 132.16 | -0.11 | near the usual relationship |
| 2025-07-02 | 120.50 | 132.00 | -0.16 | near the usual relationship |
| 2025-07-01 | 122.47 | 131.31 | +0.01 | near the usual relationship |
| 2025-06-30 | 121.66 | 138.02 | -0.45 | near the usual relationship |
| 2025-06-27 | 120.77 | 137.22 | -0.47 | near the usual relationship |
| 2025-06-26 | 119.10 | 137.39 | -0.60 | NTRA ahead |
| 2025-06-25 | 119.90 | 134.12 | -0.36 | near the usual relationship |
| 2025-06-24 | 121.67 | 140.42 | -0.61 | NTRA ahead |
| 2025-06-23 | 120.98 | 139.19 | -0.59 | NTRA ahead |
| 2025-06-20 | 121.37 | 140.41 | -0.64 | NTRA ahead |
| 2025-06-18 | 121.14 | 139.69 | -0.62 | NTRA ahead |
| 2025-06-17 | 120.24 | 136.89 | -0.52 | NTRA ahead |
| 2025-06-16 | 122.33 | 137.46 | -0.42 | near the usual relationship |
| 2025-06-13 | 121.02 | 135.08 | -0.37 | near the usual relationship |
| 2025-06-12 | 121.26 | 134.27 | -0.31 | near the usual relationship |
| 2025-06-11 | 120.48 | 136.24 | -0.48 | near the usual relationship |
| 2025-06-10 | 120.21 | 134.98 | -0.43 | near the usual relationship |
| 2025-06-09 | 118.52 | 134.14 | -0.50 | NTRA ahead |
| 2025-06-06 | 117.70 | 133.79 | -0.54 | NTRA ahead |
| 2025-06-05 | 116.86 | 135.22 | -0.68 | NTRA ahead |
| 2025-06-04 | 117.89 | 136.62 | -0.70 | NTRA ahead |
| 2025-06-03 | 116.10 | 130.84 | -0.49 | near the usual relationship |
| 2025-06-02 | 114.87 | 131.28 | -0.60 | NTRA ahead |
| 2025-05-30 | 115.39 | 128.86 | -0.42 | near the usual relationship |
| 2025-05-29 | 114.36 | 129.13 | -0.51 | NTRA ahead |
| 2025-05-28 | 114.49 | 131.71 | -0.67 | NTRA ahead |
| 2025-05-27 | 114.79 | 128.40 | -0.45 | near the usual relationship |
| 2025-05-23 | 112.40 | 125.26 | -0.42 | near the usual relationship |
| 2025-05-22 | 112.11 | 124.58 | -0.41 | near the usual relationship |
| 2025-05-21 | 111.85 | 123.44 | -0.36 | near the usual relationship |
| 2025-05-20 | 116.23 | 126.25 | -0.24 | near the usual relationship |
| 2025-05-19 | 115.77 | 125.22 | -0.21 | near the usual relationship |
| 2025-05-16 | 115.64 | 124.67 | -0.19 | near the usual relationship |
| 2025-05-15 | 114.14 | 122.06 | -0.13 | near the usual relationship |
| 2025-05-14 | 112.33 | 123.64 | -0.36 | near the usual relationship |
| 2025-05-13 | 115.87 | 124.41 | -0.18 | near the usual relationship |
| 2025-05-12 | 116.30 | 128.50 | -0.40 | near the usual relationship |
| 2025-05-09 | 113.89 | 124.14 | -0.31 | near the usual relationship |
| 2025-05-08 | 115.29 | 132.82 | -0.73 | NTRA ahead |
| 2025-05-07 | 113.96 | 130.80 | -0.71 | NTRA ahead |
| 2025-05-06 | 113.05 | 127.04 | -0.56 | NTRA ahead |
| 2025-05-05 | 114.39 | 128.58 | -0.57 | NTRA ahead |
| 2025-05-02 | 114.78 | 127.99 | -0.51 | NTRA ahead |
| 2025-05-01 | 111.82 | 123.66 | -0.46 | near the usual relationship |
| 2025-04-30 | 111.70 | 123.31 | -0.45 | near the usual relationship |
| 2025-04-29 | 111.42 | 126.54 | -0.66 | NTRA ahead |
| 2025-04-28 | 106.41 | 124.99 | -0.91 | NTRA ahead |
| 2025-04-25 | 105.81 | 125.65 | -1.00 | NTRA ahead |
| 2025-04-24 | 105.94 | 126.21 | -1.03 | NTRA ahead |
| 2025-04-23 | 103.88 | 121.37 | -0.89 | NTRA ahead |
| 2025-04-22 | 102.08 | 118.15 | -0.83 | NTRA ahead |
| 2025-04-21 | 98.35 | 116.20 | -0.98 | NTRA ahead |
| 2025-04-17 | 100.63 | 120.98 | -1.11 | NTRA ahead |
| 2025-04-16 | 102.22 | 122.69 | -1.11 | NTRA ahead |
| 2025-04-15 | 104.75 | 123.97 | -1.02 | NTRA ahead |
| 2025-04-14 | 105.69 | 121.28 | -0.81 | NTRA ahead |
| 2025-04-11 | 102.64 | 120.95 | -1.00 | NTRA ahead |
| 2025-04-10 | 101.32 | 117.06 | -0.87 | NTRA ahead |
| 2025-04-09 | 106.82 | 124.16 | -0.92 | NTRA ahead |
| 2025-04-08 | 100.89 | 108.03 | -0.37 | near the usual relationship |
| 2025-04-07 | 103.58 | 112.96 | -0.50 | NTRA ahead |
| 2025-04-04 | 104.28 | 109.37 | -0.24 | near the usual relationship |
| 2025-04-03 | 108.20 | 113.33 | -0.24 | near the usual relationship |
| 2025-04-02 | 109.55 | 116.99 | -0.37 | near the usual relationship |
| 2025-04-01 | 107.82 | 114.91 | -0.37 | near the usual relationship |
| 2025-03-31 | 107.86 | 115.53 | -0.41 | near the usual relationship |
| 2025-03-28 | 106.60 | 117.60 | -0.60 | NTRA ahead |
| 2025-03-27 | 107.37 | 121.16 | -0.76 | NTRA ahead |
| 2025-03-26 | 108.14 | 122.42 | -0.78 | NTRA ahead |
| 2025-03-25 | 108.66 | 126.29 | -0.96 | NTRA ahead |
| 2025-03-24 | 109.58 | 125.68 | -0.88 | NTRA ahead |
| 2025-03-21 | 108.55 | 123.49 | -0.84 | NTRA ahead |
| 2025-03-20 | 109.27 | 122.25 | -0.74 | NTRA ahead |
| 2025-03-19 | 111.10 | 123.26 | -0.69 | NTRA ahead |
| 2025-03-18 | 111.08 | 119.51 | -0.50 | NTRA ahead |
| 2025-03-17 | 111.43 | 121.94 | -0.62 | NTRA ahead |
| 2025-03-14 | 111.01 | 121.09 | -0.60 | NTRA ahead |
| 2025-03-13 | 109.21 | 116.43 | -0.47 | near the usual relationship |
| 2025-03-12 | 109.76 | 118.06 | -0.53 | NTRA ahead |
| 2025-03-11 | 110.88 | 114.40 | -0.28 | near the usual relationship |
| 2025-03-10 | 113.14 | 108.36 | +0.16 | near the usual relationship |
| 2025-03-07 | 117.27 | 114.92 | +0.01 | near the usual relationship |
| 2025-03-06 | 117.75 | 115.60 | +0.00 | near the usual relationship |
| 2025-03-05 | 117.85 | 120.85 | -0.27 | near the usual relationship |
| 2025-03-04 | 119.02 | 116.30 | +0.01 | near the usual relationship |
| 2025-03-03 | 117.74 | 116.92 | -0.10 | near the usual relationship |
| 2025-02-28 | 116.35 | 127.12 | -0.65 | NTRA ahead |
| 2025-02-27 | 114.84 | 127.95 | -0.76 | NTRA ahead |
| 2025-02-26 | 116.82 | 131.18 | -0.81 | NTRA ahead |
| 2025-02-25 | 117.19 | 127.45 | -0.64 | NTRA ahead |
| 2025-02-24 | 116.53 | 129.39 | -0.75 | NTRA ahead |
| 2025-02-21 | 115.79 | 132.61 | -0.92 | NTRA ahead |
| 2025-02-20 | 115.48 | 137.41 | -1.12 | NTRA ahead |
| 2025-02-19 | 114.85 | 141.02 | -1.29 | NTRA ahead |
| 2025-02-18 | 114.14 | 138.38 | -1.22 | NTRA ahead |
| 2025-02-14 | 114.24 | 141.66 | -1.33 | NTRA ahead |
| 2025-02-13 | 113.49 | 139.49 | -1.29 | NTRA ahead |
| 2025-02-12 | 111.76 | 140.48 | -1.40 | NTRA ahead |
| 2025-02-11 | 113.61 | 138.65 | -1.26 | NTRA ahead |
| 2025-02-10 | 113.58 | 140.68 | -1.34 | NTRA ahead |
| 2025-02-07 | 114.14 | 141.19 | -1.33 | NTRA ahead |
| 2025-02-06 | 114.82 | 143.09 | -1.37 | NTRA ahead |
| 2025-02-05 | 115.86 | 144.61 | -1.38 | NTRA ahead |
| 2025-02-04 | 114.32 | 142.35 | -1.37 | NTRA ahead |
| 2025-02-03 | 114.87 | 144.25 | -1.42 | NTRA ahead |
| 2025-01-31 | 115.77 | 144.54 | -1.39 | NTRA ahead |
| 2025-01-30 | 116.58 | 144.01 | -1.35 | NTRA ahead |
| 2025-01-29 | 114.11 | 137.43 | -1.23 | NTRA ahead |
| 2025-01-28 | 115.17 | 137.32 | -1.19 | NTRA ahead |
| 2025-01-27 | 115.71 | 135.02 | -1.10 | NTRA ahead |
| 2025-01-24 | 114.01 | 136.94 | -1.23 | NTRA ahead |
| 2025-01-23 | 113.23 | 140.38 | -1.37 | NTRA ahead |
| 2025-01-22 | 112.37 | 140.47 | -1.41 | NTRA ahead |
| 2025-01-21 | 113.08 | 136.81 | -1.28 | NTRA ahead |
| 2025-01-17 | 110.56 | 129.38 | -1.14 | NTRA ahead |
| 2025-01-16 | 110.66 | 137.66 | -1.40 | NTRA ahead |
| 2025-01-15 | 109.98 | 139.17 | -1.48 | NTRA ahead |
| 2025-01-14 | 108.68 | 135.42 | -1.42 | NTRA ahead |
| 2025-01-13 | 108.50 | 138.32 | -1.52 | NTRA ahead |
| 2025-01-10 | 107.52 | 142.97 | -1.70 | NTRA ahead |
| 2025-01-08 | 108.59 | 144.29 | -1.71 | NTRA ahead |
| 2025-01-07 | 108.96 | 139.22 | -1.55 | NTRA ahead |
| 2025-01-06 | 106.56 | 140.74 | -1.69 | NTRA ahead |
| 2025-01-03 | 106.20 | 136.93 | -1.60 | NTRA ahead |
| 2025-01-02 | 105.76 | 131.21 | -1.45 | NTRA ahead |
| 2024-12-31 | 106.28 | 129.33 | -1.38 | NTRA ahead |
| 2024-12-30 | 106.06 | 129.53 | -1.40 | NTRA ahead |
| 2024-12-27 | 106.79 | 130.93 | -1.42 | NTRA ahead |
| 2024-12-26 | 107.09 | 130.42 | -1.40 | NTRA ahead |
| 2024-12-24 | 106.36 | 132.67 | -1.50 | NTRA ahead |
| 2024-12-23 | 105.59 | 132.34 | -1.53 | NTRA ahead |
| 2024-12-20 | 105.95 | 132.25 | -1.52 | NTRA ahead |
| 2024-12-19 | 105.19 | 129.16 | -1.46 | NTRA ahead |
| 2024-12-18 | 104.88 | 126.80 | -1.41 | NTRA ahead |
| 2024-12-17 | 107.04 | 137.43 | -1.65 | NTRA ahead |
| 2024-12-16 | 106.42 | 139.54 | -1.74 | NTRA ahead |
| 2024-12-13 | 107.53 | 136.07 | -1.61 | NTRA ahead |
| 2024-12-12 | 107.45 | 135.99 | -1.62 | NTRA ahead |
| 2024-12-11 | 106.38 | 136.54 | -1.68 | NTRA ahead |
| 2024-12-10 | 108.70 | 135.99 | -1.60 | NTRA ahead |
| 2024-12-09 | 109.38 | 137.09 | -1.62 | NTRA ahead |
| 2024-12-06 | 107.79 | 140.24 | -1.77 | NTRA ahead |
| 2024-12-05 | 108.87 | 138.09 | -1.68 | NTRA ahead |
| 2024-12-04 | 110.02 | 142.16 | -1.76 | NTRA ahead |
| 2024-12-03 | 111.49 | 138.21 | -1.62 | NTRA ahead |
| 2024-12-02 | 111.52 | 138.74 | -1.65 | NTRA ahead |
| 2024-11-29 | 111.77 | 137.08 | -1.60 | NTRA ahead |
| 2024-11-27 | 112.23 | 137.62 | -1.61 | NTRA ahead |
| 2024-11-26 | 110.64 | 137.52 | -1.67 | NTRA ahead |
| 2024-11-25 | 111.83 | 134.31 | -1.56 | NTRA ahead |
| 2024-11-22 | 111.08 | 136.65 | -1.66 | NTRA ahead |
| 2024-11-21 | 111.31 | 138.37 | -1.71 | NTRA ahead |
| 2024-11-20 | 110.23 | 137.16 | -1.72 | NTRA ahead |
| 2024-11-19 | 109.48 | 132.43 | -1.63 | NTRA ahead |
| 2024-11-18 | 110.60 | 125.34 | -1.41 | NTRA ahead |
| 2024-11-15 | 109.01 | 119.33 | -1.29 | NTRA ahead |
| 2024-11-14 | 110.39 | 123.46 | -1.37 | NTRA ahead |
| 2024-11-13 | 114.11 | 131.51 | -1.49 | NTRA ahead |
| 2024-11-12 | 113.20 | 110.39 | -0.91 | NTRA ahead |
| 2024-11-11 | 113.05 | 109.45 | -0.89 | NTRA ahead |
| 2024-11-08 | 112.34 | 109.57 | -0.91 | NTRA ahead |
| 2024-11-07 | 110.79 | 106.53 | -0.87 | NTRA ahead |
| 2024-11-06 | 108.62 | 103.73 | -0.85 | NTRA ahead |
| 2024-11-05 | 106.18 | 101.63 | -0.86 | NTRA ahead |
| 2024-11-04 | 105.28 | 100.85 | -0.87 | NTRA ahead |
| 2024-11-01 | 105.25 | 101.44 | -0.89 | NTRA ahead |
| 2024-10-31 | 105.79 | 98.82 | -0.80 | NTRA ahead |
| 2024-10-30 | 106.85 | 103.54 | -0.92 | NTRA ahead |
| 2024-10-29 | 105.71 | 101.91 | -0.91 | NTRA ahead |
| 2024-10-28 | 105.38 | 98.62 | -0.82 | NTRA ahead |
| 2024-10-25 | 105.96 | 96.14 | -0.73 | NTRA ahead |
| 2024-10-24 | 106.63 | 97.36 | -0.75 | NTRA ahead |
| 2024-10-23 | 101.91 | 96.94 | -0.88 | NTRA ahead |
| 2024-10-22 | 102.20 | 98.00 | -0.91 | NTRA ahead |
| 2024-10-21 | 99.24 | 98.45 | -1.02 | NTRA ahead |
| 2024-10-18 | 100.00 | 100.00 | -1.05 | NTRA ahead |
One-day company-specific moves (4+ standard deviations, which block ideas for 10 sessions): Nov 13, 2024 (LH +0.8%, NTRA +19.1%); Feb 4, 2026 (LH +1.4%, NTRA -9.7%); May 8, 2026 (LH -1.5%, NTRA -11.6%); Aug 7, 2026 (LH +0.8%, NTRA +21.4%). Upcoming earnings: LH Oct 28, 2026 (pre-market); NTRA Nov 5, 2026 (not-supplied).
Paired trades
The shared paper book and the replay, kept apart
Forward paper record
No paper position on this pair yet.
Historical simulation (a diagnostic, same rules)
No simulated trade through Oct 20, 2026: the pair rarely passed every test while 2 standard deviations apart.
Per $10,000 a leg. A replay on today's companies cannot prove an edge.
The companies
LH and NTRA at a glance
LH Labcorp Holdings Inc.
- Listing
- NYSE · SEC CIK 920148
- Industry
- Medical Specialities · SIC 8071 Services-Medical Laboratories
- Market value
- $25.9B
- Price history
- 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026
NTRA Natera Inc.
- Listing
- Nasdaq · SEC CIK 1604821
- Industry
- Medical Specialities · SIC 8071 Services-Medical Laboratories
- Market value
- $57.6B
- Price history
- 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026
Daily prices: Nasdaq.com. Filings and industry codes: SEC EDGAR. Earnings dates: Nasdaq earnings calendar.
Related
All pairs →Other rivals of LH and NTRA
| Pair | Status | Ahead now | Industry |
|---|---|---|---|
| DGX / LH | Measured twin | DGX by 0.33 sd | SIC 8071 Services-Medical Laboratories |
| NTRA / DGX | Watchlist | NTRA by 1.95 sd | SIC 8071 Services-Medical Laboratories |
Follow the research behind the paper book
Boostio is a research-first platform in private beta: crypto candidates, daily market stories, public paper trading and now rival stocks. Exploring these pages stays free and open.
Explore the private betaPaper only: hypothetical paired positions with modelled costs. No broker, no orders, no real money. A historical simulation is a diagnostic, not proof of an edge. Not investment advice.
