Correlation Between Yotta Acquisition and Cytek Biosciences

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

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

Diversification Opportunities for Yotta Acquisition and Cytek Biosciences

-0.32

Correlation Coefficient

Yotta Acquisition  Cytek Biosciences

Very good diversification

The 3 months correlation between Yotta and Cytek is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding Yotta Acquisition and Cytek Biosciences in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cytek Biosciences and Yotta Acquisition 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 Yotta Acquisition 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 Yotta Acquisition i.e., Yotta Acquisition and Cytek Biosciences go up and down completely randomly.

Pair Corralation between Yotta Acquisition and Cytek Biosciences

If you would invest  302.00  in Cytek Biosciences on May 11, 2025 and sell it today you would earn a total of  109.00  from holding Cytek Biosciences or generate 36.09% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	1.61%
Values	Daily Returns

Yotta Acquisition  vs.  Cytek Biosciences

Yotta Acquisition

Risk-Adjusted Performance

Weakest

Over the last 90 days Yotta Acquisition has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly stable basic indicators, Yotta Acquisition is not utilizing all of its potentials. The newest stock price fuss, may contribute to near-short-term losses for the sophisticated investors.

Cytek Biosciences

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Cytek Biosciences are ranked lower than 10 (%) 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 Yotta Acquisition and Cytek Biosciences

The main advantage of trading using opposite Yotta Acquisition and Cytek Biosciences positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yotta Acquisition 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 Yotta Acquisition 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.