Correlation Between Celsius Holdings and Betmakers Technology

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

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

Diversification Opportunities for Celsius Holdings and Betmakers Technology

0.0

Correlation Coefficient

Celsius Holdings  Betmakers Technology

Pay attention - limited upside

The 3 months correlation between Celsius and Betmakers is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Celsius Holdings and Betmakers Technology Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Betmakers Technology 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 Betmakers Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Betmakers Technology has no effect on the direction of Celsius Holdings i.e., Celsius Holdings and Betmakers Technology go up and down completely randomly.

Pair Corralation between Celsius Holdings and Betmakers Technology

If you would invest  5.14  in Betmakers Technology Group on September 19, 2024 and sell it today you would earn a total of  0.00  from holding Betmakers Technology Group or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Celsius Holdings  vs.  Betmakers Technology Group

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 latest unfluctuating performance, the Stock's essential indicators remain strong and the recent confusion on Wall Street may also be a sign of long-lasting gains for the firm traders.

Betmakers Technology

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Betmakers Technology Group has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable basic indicators, Betmakers Technology is not utilizing all of its potentials. The latest stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with Celsius Holdings and Betmakers Technology

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

The idea behind Celsius Holdings and Betmakers Technology Group 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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.