Correlation Between Celsius Holdings and Inventiva
Can any of the company-specific risk be diversified away by investing in both Celsius Holdings and Inventiva 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 Inventiva into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Celsius Holdings and Inventiva SA, you can compare the effects of market volatilities on Celsius Holdings and Inventiva 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 Inventiva. Check out your portfolio center. Please also check ongoing floating volatility patterns of Celsius Holdings and Inventiva.
Diversification Opportunities for Celsius Holdings and Inventiva
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Celsius and Inventiva is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Celsius Holdings and Inventiva SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Inventiva SA 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 Inventiva. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Inventiva SA has no effect on the direction of Celsius Holdings i.e., Celsius Holdings and Inventiva go up and down completely randomly.
Pair Corralation between Celsius Holdings and Inventiva
If you would invest 2,579 in Celsius Holdings on September 19, 2024 and sell it today you would earn a total of 130.00 from holding Celsius Holdings or generate 5.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Celsius Holdings vs. Inventiva SA
Performance |
| Timeline |
| Celsius Holdings |
| Inventiva SA |
Celsius Holdings and Inventiva Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Celsius Holdings and Inventiva
The main advantage of trading using opposite Celsius Holdings and Inventiva positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Celsius Holdings position performs unexpectedly, Inventiva 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 Inventiva will offset losses from the drop in Inventiva'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 |
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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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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