Correlation Between Else Nutrition and Colabor
Can any of the company-specific risk be diversified away by investing in both Else Nutrition and Colabor 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 Else Nutrition and Colabor into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Else Nutrition Holdings and Colabor Group, you can compare the effects of market volatilities on Else Nutrition and Colabor 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 Else Nutrition with a short position of Colabor. Check out your portfolio center. Please also check ongoing floating volatility patterns of Else Nutrition and Colabor.
Diversification Opportunities for Else Nutrition and Colabor
0.76 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Else and Colabor is 0.76. Overlapping area represents the amount of risk that can be diversified away by holding Else Nutrition Holdings and Colabor Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Colabor Group and Else Nutrition 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 Else Nutrition Holdings are associated (or correlated) with Colabor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Colabor Group has no effect on the direction of Else Nutrition i.e., Else Nutrition and Colabor go up and down completely randomly.
Pair Corralation between Else Nutrition and Colabor
Assuming the 90 days trading horizon Else Nutrition Holdings is expected to generate 1.55 times more return on investment than Colabor. However, Else Nutrition is 1.55 times more volatile than Colabor Group. It trades about 0.0 of its potential returns per unit of risk. Colabor Group is currently generating about -0.21 per unit of risk. If you would invest 20.00 in Else Nutrition Holdings on August 17, 2025 and sell it today you would lose (8.00) from holding Else Nutrition Holdings or give up 40.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Else Nutrition Holdings vs. Colabor Group
Performance |
| Timeline |
| Else Nutrition Holdings |
| Colabor Group |
Else Nutrition and Colabor Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Else Nutrition and Colabor
The main advantage of trading using opposite Else Nutrition and Colabor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Else Nutrition position performs unexpectedly, Colabor 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 Colabor will offset losses from the drop in Colabor's long position.The idea behind Else Nutrition Holdings and Colabor Group 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.| Colabor vs. Big Rock Brewery | Colabor vs. Century Global Commodities | Colabor vs. Burcon NutraScience | Colabor vs. Else Nutrition Holdings |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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