Correlation Between Celsius Holdings and Space-Communication

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

By analyzing existing cross correlation between Celsius Holdings and Space Communication, you can compare the effects of market volatilities on Celsius Holdings and Space-Communication 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 Space-Communication. Check out your portfolio center. Please also check ongoing floating volatility patterns of Celsius Holdings and Space-Communication.

Diversification Opportunities for Celsius Holdings and Space-Communication

0.0

Correlation Coefficient

Celsius Holdings  Space-Communication

Pay attention - limited upside

The 3 months correlation between Celsius and Space-Communication is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Celsius Holdings and Space Communication in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Space Communication 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 Space-Communication. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Space Communication has no effect on the direction of Celsius Holdings i.e., Celsius Holdings and Space-Communication go up and down completely randomly.

Pair Corralation between Celsius Holdings and Space-Communication

If you would invest  3,610  in Celsius Holdings on May 23, 2025 and sell it today you would earn a total of  2,437  from holding Celsius Holdings or generate 67.51% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	96.83%
Values	Daily Returns

Celsius Holdings  vs.  Space Communication

Celsius Holdings

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Celsius Holdings are ranked lower than 22 (%) of all global equities and portfolios over the last 90 days. Despite fairly weak essential indicators, Celsius Holdings demonstrated solid returns over the last few months and may actually be approaching a breakup point.

Space Communication

Risk-Adjusted Performance

Weakest

Over the last 90 days Space Communication has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable primary indicators, Space-Communication is not utilizing all of its potentials. The latest stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with Celsius Holdings and Space-Communication

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

The idea behind Celsius Holdings and Space Communication 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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.