Correlation Between Todos Medical Ltd and Cytek Biosciences

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

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

Diversification Opportunities for Todos Medical Ltd and Cytek Biosciences

0.0

Correlation Coefficient

Todos Medical Ltd  Cytek Biosciences

Pay attention - limited upside

The 3 months correlation between Todos and Cytek is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Todos Medical and Cytek Biosciences in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cytek Biosciences and Todos Medical Ltd 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 Todos Medical 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 Todos Medical Ltd i.e., Todos Medical Ltd and Cytek Biosciences go up and down completely randomly.

Pair Corralation between Todos Medical Ltd and Cytek Biosciences

If you would invest  268.00  in Cytek Biosciences on May 15, 2025 and sell it today you would earn a total of  135.00  from holding Cytek Biosciences or generate 50.37% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	96.77%
Values	Daily Returns

Todos Medical  vs.  Cytek Biosciences

Todos Medical Ltd

Risk-Adjusted Performance

Weakest

Over the last 90 days Todos Medical has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, Todos Medical Ltd is not utilizing all of its potentials. The recent stock price disturbance, may contribute to mid-run losses for the stockholders.

Cytek Biosciences

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Cytek Biosciences are ranked lower than 13 (%) 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 Todos Medical Ltd and Cytek Biosciences

The main advantage of trading using opposite Todos Medical Ltd and Cytek Biosciences positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Todos Medical Ltd 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 Todos Medical 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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.