Correlation Between Abcellera Biologics and Celldex Therapeutics

Can any of the company-specific risk be diversified away by investing in both Abcellera Biologics and Celldex Therapeutics 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 Abcellera Biologics and Celldex Therapeutics into the same portfolio, which is an essential part of the fundamental portfolio management process.

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

Diversification Opportunities for Abcellera Biologics and Celldex Therapeutics

0.04

Correlation Coefficient

Abcellera Biologics  Celldex Therapeutics

Significant diversification

The 3 months correlation between Abcellera and Celldex is 0.04. Overlapping area represents the amount of risk that can be diversified away by holding Abcellera Biologics and Celldex Therapeutics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Celldex Therapeutics and Abcellera Biologics 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 Abcellera Biologics are associated (or correlated) with Celldex Therapeutics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Celldex Therapeutics has no effect on the direction of Abcellera Biologics i.e., Abcellera Biologics and Celldex Therapeutics go up and down completely randomly.

Pair Corralation between Abcellera Biologics and Celldex Therapeutics

Given the investment horizon of 90 days Abcellera Biologics is expected to generate 2.19 times less return on investment than Celldex Therapeutics. In addition to that, Abcellera Biologics is 1.33 times more volatile than Celldex Therapeutics. It trades about 0.03 of its total potential returns per unit of risk. Celldex Therapeutics is currently generating about 0.08 per unit of volatility. If you would invest  2,050  in Celldex Therapeutics on September 18, 2025 and sell it today you would earn a total of  618.00  from holding Celldex Therapeutics or generate 30.15% return on investment over 90 days.

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

Abcellera Biologics  vs.  Celldex Therapeutics

Abcellera Biologics

Risk-Adjusted Performance

Weakest

Over the last 90 days Abcellera Biologics has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's fundamental indicators remain quite persistent which may send shares a bit higher in January 2026. The latest mess may also be a sign of long-standing up-swing for the company institutional investors.

Celldex Therapeutics

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in Celldex Therapeutics are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. In spite of fairly strong fundamental indicators, Celldex Therapeutics is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with Abcellera Biologics and Celldex Therapeutics

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

The idea behind Abcellera Biologics and Celldex Therapeutics 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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.