Correlation Between Celsius Holdings and Tharimmune

Can any of the company-specific risk be diversified away by investing in both Celsius Holdings and Tharimmune 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 Tharimmune into the same portfolio, which is an essential part of the fundamental portfolio management process.

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

Diversification Opportunities for Celsius Holdings and Tharimmune

-0.45

Correlation Coefficient

Celsius Holdings  Tharimmune

Very good diversification

The 3 months correlation between Celsius and Tharimmune is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Celsius Holdings and Tharimmune in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tharimmune 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 Tharimmune. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tharimmune has no effect on the direction of Celsius Holdings i.e., Celsius Holdings and Tharimmune go up and down completely randomly.

Pair Corralation between Celsius Holdings and Tharimmune

Given the investment horizon of 90 days Celsius Holdings is expected to generate 1.28 times more return on investment than Tharimmune. However, Celsius Holdings is 1.28 times more volatile than Tharimmune. It trades about 0.1 of its potential returns per unit of risk. Tharimmune is currently generating about -0.12 per unit of risk. If you would invest  2,585  in Celsius Holdings on December 30, 2024 and sell it today you would earn a total of  780.00  from holding Celsius Holdings or generate 30.17% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

Celsius Holdings  vs.  Tharimmune

Celsius Holdings

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Celsius Holdings are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. Despite fairly unfluctuating essential indicators, Celsius Holdings demonstrated solid returns over the last few months and may actually be approaching a breakup point.

Tharimmune

Risk-Adjusted Performance

Very Weak

Over the last 90 days Tharimmune has generated negative risk-adjusted returns adding no value to investors with long positions. Even with weak performance in the last few months, the Stock's basic indicators remain relatively invariable which may send shares a bit higher in April 2025. The latest agitation may also be a sign of long-running up-swing for the enterprise retail investors.

Pair Trading with Celsius Holdings and Tharimmune

The main advantage of trading using opposite Celsius Holdings and Tharimmune positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Celsius Holdings position performs unexpectedly, Tharimmune 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 Tharimmune will offset losses from the drop in Tharimmune's long position.

The idea behind Celsius Holdings and Tharimmune 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.

Check out your portfolio center.

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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.