Correlation Between Crowdstrike Holdings and Goodrx Holdings
Can any of the company-specific risk be diversified away by investing in both Crowdstrike Holdings and Goodrx 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 Crowdstrike Holdings and Goodrx Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Crowdstrike Holdings and Goodrx Holdings, you can compare the effects of market volatilities on Crowdstrike Holdings and Goodrx 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 Crowdstrike Holdings with a short position of Goodrx Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Crowdstrike Holdings and Goodrx Holdings.
Diversification Opportunities for Crowdstrike Holdings and Goodrx Holdings
-0.55 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Crowdstrike and Goodrx is -0.55. Overlapping area represents the amount of risk that can be diversified away by holding Crowdstrike Holdings and Goodrx Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Goodrx Holdings and Crowdstrike Holdings 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 Crowdstrike Holdings are associated (or correlated) with Goodrx Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Goodrx Holdings has no effect on the direction of Crowdstrike Holdings i.e., Crowdstrike Holdings and Goodrx Holdings go up and down completely randomly.
Pair Corralation between Crowdstrike Holdings and Goodrx Holdings
Given the investment horizon of 90 days Crowdstrike Holdings is expected to generate 0.65 times more return on investment than Goodrx Holdings. However, Crowdstrike Holdings is 1.54 times less risky than Goodrx Holdings. It trades about 0.14 of its potential returns per unit of risk. Goodrx Holdings is currently generating about -0.16 per unit of risk. If you would invest 41,320 in Crowdstrike Holdings on September 3, 2025 and sell it today you would earn a total of 9,093 from holding Crowdstrike Holdings or generate 22.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Crowdstrike Holdings vs. Goodrx Holdings
Performance |
| Timeline |
| Crowdstrike Holdings |
| Goodrx Holdings |
Crowdstrike Holdings and Goodrx Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Crowdstrike Holdings and Goodrx Holdings
The main advantage of trading using opposite Crowdstrike Holdings and Goodrx Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Crowdstrike Holdings position performs unexpectedly, Goodrx 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 Goodrx Holdings will offset losses from the drop in Goodrx Holdings' long position.| Crowdstrike Holdings vs. Kestra Medical Technologies, | Crowdstrike Holdings vs. Tata Steel Limited | Crowdstrike Holdings vs. National Rural Utilities | Crowdstrike Holdings vs. Veolia Environnement SA |
| Goodrx Holdings vs. Gaztransport Technigaz SA | Goodrx Holdings vs. BlueScope Steel Ltd | Goodrx Holdings vs. Tree Island Steel | Goodrx Holdings vs. CECO Environmental Corp |
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.
Other Complementary Tools
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| CEOs Directory Screen CEOs from public companies around the world |