Correlation Between Celsius Holdings and Kindly MD,

Can any of the company-specific risk be diversified away by investing in both Celsius Holdings and Kindly MD, at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Celsius Holdings and Kindly MD, into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Celsius Holdings and Kindly MD, Warrants, you can compare the effects of market volatilities on Celsius Holdings and Kindly MD, 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 Celsius Holdings with a short position of Kindly MD,. Check out your portfolio center. Please also check ongoing floating volatility patterns of Celsius Holdings and Kindly MD,.

Diversification Opportunities for Celsius Holdings and Kindly MD,

0.69

Correlation Coefficient

Celsius Holdings  Kindly MD,

Poor diversification

The 3 months correlation between Celsius and Kindly is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding Celsius Holdings and Kindly MD, Warrants in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kindly MD, Warrants and Celsius Holdings 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 Celsius Holdings are associated (or correlated) with Kindly MD,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kindly MD, Warrants has no effect on the direction of Celsius Holdings i.e., Celsius Holdings and Kindly MD, go up and down completely randomly.

Pair Corralation between Celsius Holdings and Kindly MD,

Given the investment horizon of 90 days Celsius Holdings is expected to under-perform the Kindly MD,. But the stock apears to be less risky and, when comparing its historical volatility, Celsius Holdings is 5.35 times less risky than Kindly MD,. The stock trades about -0.01 of its potential returns per unit of risk. The Kindly MD, Warrants is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest  24.00  in Kindly MD, Warrants on September 12, 2024 and sell it today you would lose (4.10) from holding Kindly MD, Warrants or give up 17.08% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Significant
Accuracy	89.06%
Values	Daily Returns

Celsius Holdings  vs.  Kindly MD, Warrants

Celsius Holdings

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Celsius Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fairly strong essential indicators, Celsius Holdings is not utilizing all of its potentials. The recent stock price confusion, may contribute to short-horizon losses for the traders.

Kindly MD, Warrants

Risk-Adjusted Performance

6 of 100

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Kindly MD, Warrants are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. In spite of fairly inconsistent basic indicators, Kindly MD, showed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Celsius Holdings and Kindly MD,

The main advantage of trading using opposite Celsius Holdings and Kindly MD, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Celsius Holdings position performs unexpectedly, Kindly MD, can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Kindly MD, will offset losses from the drop in Kindly MD,'s long position.

The idea behind Celsius Holdings and Kindly MD, Warrants pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Global Correlations module to find global opportunities by holding instruments from different markets.