Correlation Between Crimson Wine and KULR Technology
Can any of the company-specific risk be diversified away by investing in both Crimson Wine and KULR Technology 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 Crimson Wine and KULR Technology into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Crimson Wine and KULR Technology Group, you can compare the effects of market volatilities on Crimson Wine and KULR Technology 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 Crimson Wine with a short position of KULR Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Crimson Wine and KULR Technology.
Diversification Opportunities for Crimson Wine and KULR Technology
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Crimson and KULR is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding Crimson Wine and KULR Technology Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KULR Technology Group and Crimson Wine 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 Crimson Wine are associated (or correlated) with KULR Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KULR Technology Group has no effect on the direction of Crimson Wine i.e., Crimson Wine and KULR Technology go up and down completely randomly.
Pair Corralation between Crimson Wine and KULR Technology
Given the investment horizon of 90 days Crimson Wine is expected to under-perform the KULR Technology. But the otc stock apears to be less risky and, when comparing its historical volatility, Crimson Wine is 4.37 times less risky than KULR Technology. The otc stock trades about -0.02 of its potential returns per unit of risk. The KULR Technology Group is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 416.00 in KULR Technology Group on September 9, 2025 and sell it today you would lose (29.00) from holding KULR Technology Group or give up 6.97% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 98.46% |
| Values | Daily Returns |
Crimson Wine vs. KULR Technology Group
Performance |
| Timeline |
| Crimson Wine |
| KULR Technology Group |
Crimson Wine and KULR Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Crimson Wine and KULR Technology
The main advantage of trading using opposite Crimson Wine and KULR Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Crimson Wine position performs unexpectedly, KULR Technology 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 KULR Technology will offset losses from the drop in KULR Technology's long position.| Crimson Wine vs. Reeds Inc | Crimson Wine vs. Union Medical Healthcare | Crimson Wine vs. Naked Wines plc | Crimson Wine vs. Bubs Australia Limited |
| KULR Technology vs. Greenidge Generation Holdings | KULR Technology vs. Medirom Healthcare Technologies | KULR Technology vs. Listed Funds Trust | KULR Technology vs. Classic Value Fund |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
Other Complementary Tools
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |