Correlation Between Celsius Holdings and COOPERATIEVE
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By analyzing existing cross correlation between Celsius Holdings and COOPERATIEVE CENTRALE RAIFFEISEN, you can compare the effects of market volatilities on Celsius Holdings and COOPERATIEVE 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 COOPERATIEVE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Celsius Holdings and COOPERATIEVE.
Diversification Opportunities for Celsius Holdings and COOPERATIEVE
-0.54 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Celsius and COOPERATIEVE is -0.54. Overlapping area represents the amount of risk that can be diversified away by holding Celsius Holdings and COOPERATIEVE CENTRALE RAIFFEIS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on COOPERATIEVE CENTRALE 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 COOPERATIEVE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of COOPERATIEVE CENTRALE has no effect on the direction of Celsius Holdings i.e., Celsius Holdings and COOPERATIEVE go up and down completely randomly.
Pair Corralation between Celsius Holdings and COOPERATIEVE
Given the investment horizon of 90 days Celsius Holdings is expected to generate 118.9 times less return on investment than COOPERATIEVE. But when comparing it to its historical volatility, Celsius Holdings is 21.68 times less risky than COOPERATIEVE. It trades about 0.01 of its potential returns per unit of risk. COOPERATIEVE CENTRALE RAIFFEISEN is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 9,716 in COOPERATIEVE CENTRALE RAIFFEISEN on September 14, 2024 and sell it today you would earn a total of 89.00 from holding COOPERATIEVE CENTRALE RAIFFEISEN or generate 0.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 65.38% |
| Values | Daily Returns |
Celsius Holdings vs. COOPERATIEVE CENTRALE RAIFFEIS
Performance |
| Timeline |
| Celsius Holdings |
| COOPERATIEVE CENTRALE |
Celsius Holdings and COOPERATIEVE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Celsius Holdings and COOPERATIEVE
The main advantage of trading using opposite Celsius Holdings and COOPERATIEVE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Celsius Holdings position performs unexpectedly, COOPERATIEVE 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 COOPERATIEVE will offset losses from the drop in COOPERATIEVE'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 |
| COOPERATIEVE vs. Diamond Estates Wines | COOPERATIEVE vs. Empresa Distribuidora y | COOPERATIEVE vs. Celsius Holdings | COOPERATIEVE vs. Vodka Brands Corp |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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