Correlation Between Clene and Unitronix

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

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

Diversification Opportunities for Clene and Unitronix

-0.71

Correlation Coefficient

Clene  Unitronix

Pay attention - limited upside

The 3 months correlation between Clene and Unitronix is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding Clene Inc and Unitronix in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Unitronix and Clene 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 Clene Inc 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 Clene i.e., Clene and Unitronix go up and down completely randomly.

Pair Corralation between Clene and Unitronix

Given the investment horizon of 90 days Clene Inc is expected to generate 0.7 times more return on investment than Unitronix. However, Clene Inc is 1.43 times less risky than Unitronix. It trades about 0.14 of its potential returns per unit of risk. Unitronix is currently generating about -0.12 per unit of risk. If you would invest  533.00  in Clene Inc on August 24, 2025 and sell it today you would earn a total of  394.00  from holding Clene Inc or generate 73.92% return on investment over 90 days.

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

Clene Inc  vs.  Unitronix

Clene Inc

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Clene Inc are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. In spite of very weak basic indicators, Clene displayed 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 Clene and Unitronix

The main advantage of trading using opposite Clene and Unitronix positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Clene 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 Clene Inc 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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.