Correlation Between Connexa Sports and EUDA Health

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

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

Diversification Opportunities for Connexa Sports and EUDA Health

-0.16

Correlation Coefficient

Connexa Sports  EUDA Health

Good diversification

The 3 months correlation between Connexa and EUDA is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Connexa Sports Technologies and EUDA Health Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EUDA Health Holdings and Connexa Sports 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 Connexa Sports Technologies are associated (or correlated) with EUDA Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EUDA Health Holdings has no effect on the direction of Connexa Sports i.e., Connexa Sports and EUDA Health go up and down completely randomly.

Pair Corralation between Connexa Sports and EUDA Health

Given the investment horizon of 90 days Connexa Sports Technologies is expected to generate 2.03 times more return on investment than EUDA Health. However, Connexa Sports is 2.03 times more volatile than EUDA Health Holdings. It trades about 0.16 of its potential returns per unit of risk. EUDA Health Holdings is currently generating about -0.13 per unit of risk. If you would invest  90.00  in Connexa Sports Technologies on June 29, 2025 and sell it today you would earn a total of  130.00  from holding Connexa Sports Technologies or generate 144.44% return on investment over 90 days.

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

Connexa Sports Technologies  vs.  EUDA Health Holdings

Connexa Sports Techn

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Connexa Sports Technologies are ranked lower than 12 (%) of all global equities and portfolios over the last 90 days. Despite fairly weak basic indicators, Connexa Sports demonstrated solid returns over the last few months and may actually be approaching a breakup point.

EUDA Health Holdings

Risk-Adjusted Performance

Weakest

Over the last 90 days EUDA Health Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. Despite unfluctuating performance in the last few months, the Stock's fundamental indicators remain somewhat strong which may send shares a bit higher in October 2025. The current disturbance may also be a sign of long term up-swing for the company investors.

Pair Trading with Connexa Sports and EUDA Health

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

The idea behind Connexa Sports Technologies and EUDA Health 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.

Check out your portfolio center.

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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.