Correlation Between Elutia and Streamline Health

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

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

Diversification Opportunities for Elutia and Streamline Health

-0.76

Correlation Coefficient

Elutia  Streamline Health

Pay attention - limited upside

The 3 months correlation between Elutia and Streamline is -0.76. Overlapping area represents the amount of risk that can be diversified away by holding Elutia Inc and Streamline Health Solutions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Streamline Health and Elutia 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 Elutia Inc are associated (or correlated) with Streamline Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Streamline Health has no effect on the direction of Elutia i.e., Elutia and Streamline Health go up and down completely randomly.

Pair Corralation between Elutia and Streamline Health

If you would invest  533.00  in Streamline Health Solutions on September 12, 2025 and sell it today you would earn a total of  0.00  from holding Streamline Health Solutions or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Weak
Accuracy	1.59%
Values	Daily Returns

Elutia Inc  vs.  Streamline Health Solutions

Elutia Inc

Risk-Adjusted Performance

Weakest

Over the last 90 days Elutia Inc has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's basic indicators remain comparatively stable which may send shares a bit higher in January 2026. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Streamline Health

Risk-Adjusted Performance

Weakest

Over the last 90 days Streamline Health Solutions has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy basic indicators, Streamline Health is not utilizing all of its potentials. The current stock price disarray, may contribute to short-term losses for the investors.

Pair Trading with Elutia and Streamline Health

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

The idea behind Elutia Inc and Streamline Health Solutions 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 Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.