Correlation Between Kindly MD, and Cytek Biosciences

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

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

Diversification Opportunities for Kindly MD, and Cytek Biosciences

-0.69

Correlation Coefficient

Kindly MD,  Cytek Biosciences

Excellent diversification

The 3 months correlation between Kindly and Cytek is -0.69. Overlapping area represents the amount of risk that can be diversified away by holding Kindly MD, and Cytek Biosciences in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cytek Biosciences and Kindly MD, 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 Kindly MD, are associated (or correlated) with Cytek Biosciences. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cytek Biosciences has no effect on the direction of Kindly MD, i.e., Kindly MD, and Cytek Biosciences go up and down completely randomly.

Pair Corralation between Kindly MD, and Cytek Biosciences

Given the investment horizon of 90 days Kindly MD, is expected to generate 7.87 times more return on investment than Cytek Biosciences. However, Kindly MD, is 7.87 times more volatile than Cytek Biosciences. It trades about 0.12 of its potential returns per unit of risk. Cytek Biosciences is currently generating about 0.15 per unit of risk. If you would invest  390.00  in Kindly MD, on May 9, 2025 and sell it today you would earn a total of  340.00  from holding Kindly MD, or generate 87.18% return on investment over 90 days.

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

Kindly MD,  vs.  Cytek Biosciences

Kindly MD,

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Kindly MD, are ranked lower than 9 (%) of all global equities and portfolios over the last 90 days. Despite somewhat unsteady forward-looking signals, Kindly MD, sustained solid returns over the last few months and may actually be approaching a breakup point.

Cytek Biosciences

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Cytek Biosciences are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. Despite somewhat uncertain forward-looking signals, Cytek Biosciences sustained solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Kindly MD, and Cytek Biosciences

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

The idea behind Kindly MD, and Cytek Biosciences 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.