Correlation Between Celsius Holdings and Mascot Mines
Can any of the company-specific risk be diversified away by investing in both Celsius Holdings and Mascot Mines 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 Mascot Mines into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Celsius Holdings and Mascot Mines, you can compare the effects of market volatilities on Celsius Holdings and Mascot Mines 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 Mascot Mines. Check out your portfolio center. Please also check ongoing floating volatility patterns of Celsius Holdings and Mascot Mines.
Diversification Opportunities for Celsius Holdings and Mascot Mines
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Celsius and Mascot is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Celsius Holdings and Mascot Mines in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mascot Mines 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 Mascot Mines. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mascot Mines has no effect on the direction of Celsius Holdings i.e., Celsius Holdings and Mascot Mines go up and down completely randomly.
Pair Corralation between Celsius Holdings and Mascot Mines
If you would invest 2,749 in Celsius Holdings on January 11, 2025 and sell it today you would earn a total of 904.00 from holding Celsius Holdings or generate 32.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Celsius Holdings vs. Mascot Mines
Performance |
| Timeline |
| Celsius Holdings |
| Mascot Mines |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Celsius Holdings and Mascot Mines Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Celsius Holdings and Mascot Mines
The main advantage of trading using opposite Celsius Holdings and Mascot Mines positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Celsius Holdings position performs unexpectedly, Mascot Mines 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 Mascot Mines will offset losses from the drop in Mascot Mines' long position.| Celsius Holdings vs. Vita Coco | Celsius Holdings vs. Keurig Dr Pepper | Celsius Holdings vs. PepsiCo | Celsius Holdings vs. Coca Cola Femsa SAB |
| Mascot Mines vs. Roblox Corp | Mascot Mines vs. Games Workshop Group | Mascot Mines vs. Gamehost | Mascot Mines vs. Coupang LLC |
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 Stocks Directory module to find actively traded stocks across global markets.
Other Complementary Tools
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals |