Correlation Between Nutra Pharma and Curaleaf Holdings

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

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

Diversification Opportunities for Nutra Pharma and Curaleaf Holdings

-0.08

Correlation Coefficient

Nutra Pharma  Curaleaf Holdings

Good diversification

The 3 months correlation between Nutra and Curaleaf is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding Nutra Pharma Corp and Curaleaf Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Curaleaf Holdings and Nutra Pharma 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 Nutra Pharma Corp are associated (or correlated) with Curaleaf Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Curaleaf Holdings has no effect on the direction of Nutra Pharma i.e., Nutra Pharma and Curaleaf Holdings go up and down completely randomly.

Pair Corralation between Nutra Pharma and Curaleaf Holdings

Given the investment horizon of 90 days Nutra Pharma Corp is expected to generate 22.79 times more return on investment than Curaleaf Holdings. However, Nutra Pharma is 22.79 times more volatile than Curaleaf Holdings. It trades about 0.19 of its potential returns per unit of risk. Curaleaf Holdings is currently generating about 0.23 per unit of risk. If you would invest  0.02  in Nutra Pharma Corp on July 1, 2025 and sell it today you would lose (0.01) from holding Nutra Pharma Corp or give up 50.0% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	38.1%
Values	Daily Returns

Nutra Pharma Corp  vs.  Curaleaf Holdings

Nutra Pharma Corp

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Nutra Pharma Corp are ranked lower than 14 (%) of all global equities and portfolios over the last 90 days. In spite of rather inconsistent technical indicators, Nutra Pharma exhibited solid returns over the last few months and may actually be approaching a breakup point.

Curaleaf Holdings

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Curaleaf Holdings are ranked lower than 17 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile essential indicators, Curaleaf Holdings reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Nutra Pharma and Curaleaf Holdings

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

The idea behind Nutra Pharma Corp and Curaleaf Holdings 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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.