Correlation Between Cardio Diagnostics and CXApp

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

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

Diversification Opportunities for Cardio Diagnostics and CXApp

0.38

Correlation Coefficient

Cardio Diagnostics  CXApp

Weak diversification

The 3 months correlation between Cardio and CXApp is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Cardio Diagnostics Holdings and CXApp Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CXApp Inc and Cardio Diagnostics 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 Cardio Diagnostics Holdings are associated (or correlated) with CXApp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CXApp Inc has no effect on the direction of Cardio Diagnostics i.e., Cardio Diagnostics and CXApp go up and down completely randomly.

Pair Corralation between Cardio Diagnostics and CXApp

Given the investment horizon of 90 days Cardio Diagnostics Holdings is expected to generate 1.32 times more return on investment than CXApp. However, Cardio Diagnostics is 1.32 times more volatile than CXApp Inc. It trades about 0.03 of its potential returns per unit of risk. CXApp Inc is currently generating about -0.11 per unit of risk. If you would invest  389.00  in Cardio Diagnostics Holdings on May 10, 2025 and sell it today you would earn a total of  5.00  from holding Cardio Diagnostics Holdings or generate 1.29% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

Cardio Diagnostics Holdings  vs.  CXApp Inc

Cardio Diagnostics

Risk-Adjusted Performance

Weakest

Over the last 90 days Cardio Diagnostics Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest weak performance, the Stock's forward indicators remain healthy and the recent disarray on Wall Street may also be a sign of long period gains for the firm investors.

CXApp Inc

Risk-Adjusted Performance

Weakest

Over the last 90 days CXApp Inc has generated negative risk-adjusted returns adding no value to investors with long positions. Despite inconsistent performance in the last few months, the Stock's basic indicators remain fairly strong which may send shares a bit higher in September 2025. The recent confusion may also be a sign of long-lasting up-swing for the firm traders.

Pair Trading with Cardio Diagnostics and CXApp

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

The idea behind Cardio Diagnostics Holdings and CXApp Inc 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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.