Correlation Between Celsius Holdings and China Tontine
Can any of the company-specific risk be diversified away by investing in both Celsius Holdings and China Tontine 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 China Tontine into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Celsius Holdings and China Tontine Wines, you can compare the effects of market volatilities on Celsius Holdings and China Tontine 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 China Tontine. Check out your portfolio center. Please also check ongoing floating volatility patterns of Celsius Holdings and China Tontine.
Diversification Opportunities for Celsius Holdings and China Tontine
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Celsius and China is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Celsius Holdings and China Tontine Wines in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Tontine Wines 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 China Tontine. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Tontine Wines has no effect on the direction of Celsius Holdings i.e., Celsius Holdings and China Tontine go up and down completely randomly.
Pair Corralation between Celsius Holdings and China Tontine
If you would invest 7.10 in China Tontine Wines on August 30, 2024 and sell it today you would earn a total of 0.00 from holding China Tontine Wines 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. China Tontine Wines
Performance |
| Timeline |
| Celsius Holdings |
| China Tontine Wines |
Celsius Holdings and China Tontine Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Celsius Holdings and China Tontine
The main advantage of trading using opposite Celsius Holdings and China Tontine positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Celsius Holdings position performs unexpectedly, China Tontine 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 China Tontine will offset losses from the drop in China Tontine's long position.| Celsius Holdings vs. Vita Coco | Celsius Holdings vs. Keurig Dr Pepper | Celsius Holdings vs. PepsiCo | Celsius Holdings vs. Coca Cola Femsa SAB |
| China Tontine vs. Aristocrat Group Corp | China Tontine vs. Naked Wines plc | China Tontine vs. Willamette Valley Vineyards | China Tontine vs. Andrew Peller Limited |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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