Correlation Between Cardio Diagnostics and Unitronix

Can any of the company-specific risk be diversified away by investing in both Cardio Diagnostics and Unitronix 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 Unitronix 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 Unitronix, you can compare the effects of market volatilities on Cardio Diagnostics and Unitronix 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 Unitronix. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cardio Diagnostics and Unitronix.

Diversification Opportunities for Cardio Diagnostics and Unitronix

-0.78

Correlation Coefficient

Cardio Diagnostics  Unitronix

Pay attention - limited upside

The 3 months correlation between Cardio and Unitronix is -0.78. Overlapping area represents the amount of risk that can be diversified away by holding Cardio Diagnostics Holdings and Unitronix in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Unitronix 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 Unitronix. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Unitronix has no effect on the direction of Cardio Diagnostics i.e., Cardio Diagnostics and Unitronix go up and down completely randomly.

Pair Corralation between Cardio Diagnostics and Unitronix

Assuming the 90 days horizon Cardio Diagnostics Holdings is expected to generate 0.94 times more return on investment than Unitronix. However, Cardio Diagnostics Holdings is 1.06 times less risky than Unitronix. It trades about 0.11 of its potential returns per unit of risk. Unitronix is currently generating about -0.12 per unit of risk. If you would invest  1.42  in Cardio Diagnostics Holdings on August 24, 2025 and sell it today you would earn a total of  0.55  from holding Cardio Diagnostics Holdings or generate 38.73% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Weak
Accuracy	79.69%
Values	Daily Returns

Cardio Diagnostics Holdings  vs.  Unitronix

Cardio Diagnostics

Risk-Adjusted Performance

Fair

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 fairly weak basic indicators, Cardio Diagnostics showed solid returns over the last few months and may actually be approaching a breakup point.

Unitronix

Risk-Adjusted Performance

Weakest

Over the last 90 days Unitronix has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fragile performance in the last few months, the Stock's basic indicators remain fairly strong which may send shares a bit higher in December 2025. The current disturbance may also be a sign of long term up-swing for the company investors.

Pair Trading with Cardio Diagnostics and Unitronix

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

The idea behind Cardio Diagnostics Holdings and Unitronix 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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.