Correlation Between Cue Health and Axos Financial

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

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

Diversification Opportunities for Cue Health and Axos Financial

0.0

Correlation Coefficient

Cue Health  Axos Financial

Pay attention - limited upside

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

Pair Corralation between Cue Health and Axos Financial

If you would invest  0.00  in Cue Health on September 10, 2025 and sell it today you would earn a total of  0.00  from holding Cue Health or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	92.06%
Values	Daily Returns

Cue Health  vs.  Axos Financial

Cue Health

Risk-Adjusted Performance

Weakest

Over the last 90 days Cue Health has generated negative risk-adjusted returns adding no value to investors with long positions. Even with relatively invariable technical indicators, Cue Health is not utilizing all of its potentials. The latest stock price agitation, may contribute to short-term losses for the retail investors.

Axos Financial

Risk-Adjusted Performance

Weakest

Over the last 90 days Axos Financial has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly strong basic indicators, Axos Financial is not utilizing all of its potentials. The latest stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with Cue Health and Axos Financial

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

The idea behind Cue Health and Axos Financial 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.