Correlation Between Eline Entertainment and CCFNB Bancorp

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

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

Diversification Opportunities for Eline Entertainment and CCFNB Bancorp

-0.74

Correlation Coefficient

Eline Entertainment  CCFNB Bancorp

Pay attention - limited upside

The 3 months correlation between Eline and CCFNB is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Eline Entertainment Group and CCFNB Bancorp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CCFNB Bancorp and Eline Entertainment 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 Eline Entertainment Group are associated (or correlated) with CCFNB Bancorp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CCFNB Bancorp has no effect on the direction of Eline Entertainment i.e., Eline Entertainment and CCFNB Bancorp go up and down completely randomly.

Pair Corralation between Eline Entertainment and CCFNB Bancorp

Given the investment horizon of 90 days Eline Entertainment Group is expected to generate 45.01 times more return on investment than CCFNB Bancorp. However, Eline Entertainment is 45.01 times more volatile than CCFNB Bancorp. It trades about 0.15 of its potential returns per unit of risk. CCFNB Bancorp is currently generating about 0.02 per unit of risk. If you would invest  0.02  in Eline Entertainment Group on August 23, 2025 and sell it today you would earn a total of  0.00  from holding Eline Entertainment Group or generate 0.0% return on investment over 90 days.

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

Eline Entertainment Group  vs.  CCFNB Bancorp

Eline Entertainment

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Eline Entertainment Group are ranked lower than 7 (%) of all global equities and portfolios over the last 90 days. Despite fairly unsteady technical and fundamental indicators, Eline Entertainment demonstrated solid returns over the last few months and may actually be approaching a breakup point.

CCFNB Bancorp

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in CCFNB Bancorp are ranked lower than 12 (%) of all global equities and portfolios over the last 90 days. In spite of very inconsistent technical and fundamental indicators, CCFNB Bancorp may actually be approaching a critical reversion point that can send shares even higher in December 2025.

Pair Trading with Eline Entertainment and CCFNB Bancorp

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

The idea behind Eline Entertainment Group and CCFNB Bancorp 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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.