Correlation Between Kindly MD, and Celsius Holdings

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

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

Diversification Opportunities for Kindly MD, and Celsius Holdings

0.69

Correlation Coefficient

Kindly MD,  Celsius Holdings

Poor diversification

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

Pair Corralation between Kindly MD, and Celsius Holdings

Assuming the 90 days horizon Kindly MD, Warrants is expected to generate 6.89 times more return on investment than Celsius Holdings. However, Kindly MD, is 6.89 times more volatile than Celsius Holdings. It trades about 0.24 of its potential returns per unit of risk. Celsius Holdings is currently generating about 0.17 per unit of risk. If you would invest  11.00  in Kindly MD, Warrants on September 12, 2024 and sell it today you would earn a total of  8.90  from holding Kindly MD, Warrants or generate 80.91% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Significant
Accuracy	90.48%
Values	Daily Returns

Kindly MD, Warrants  vs.  Celsius Holdings

Kindly MD, Warrants

Risk-Adjusted Performance

1 of 100

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Kindly MD, Warrants are ranked lower than 1 (%) 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.

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.

Pair Trading with Kindly MD, and Celsius Holdings

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

The idea behind Kindly MD, Warrants and Celsius Holdings 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.