Correlation Between Apellis Pharmaceuticals and Intra Cellular

Can any of the company-specific risk be diversified away by investing in both Apellis Pharmaceuticals and Intra Cellular 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 Apellis Pharmaceuticals and Intra Cellular into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Apellis Pharmaceuticals and Intra Cellular Therapies, you can compare the effects of market volatilities on Apellis Pharmaceuticals and Intra Cellular 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 Apellis Pharmaceuticals with a short position of Intra Cellular. Check out your portfolio center. Please also check ongoing floating volatility patterns of Apellis Pharmaceuticals and Intra Cellular.

Diversification Opportunities for Apellis Pharmaceuticals and Intra Cellular

0.0

Correlation Coefficient

Apellis Pharmaceuticals  Intra Cellular

Pay attention - limited upside

The 3 months correlation between Apellis and Intra is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Apellis Pharmaceuticals and Intra Cellular Therapies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intra Cellular Therapies and Apellis Pharmaceuticals 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 Apellis Pharmaceuticals are associated (or correlated) with Intra Cellular. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intra Cellular Therapies has no effect on the direction of Apellis Pharmaceuticals i.e., Apellis Pharmaceuticals and Intra Cellular go up and down completely randomly.

Pair Corralation between Apellis Pharmaceuticals and Intra Cellular

If you would invest  1,921  in Apellis Pharmaceuticals on April 30, 2025 and sell it today you would lose (32.00) from holding Apellis Pharmaceuticals or give up 1.67% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	1.61%
Values	Daily Returns

Apellis Pharmaceuticals  vs.  Intra Cellular Therapies

Apellis Pharmaceuticals

Risk-Adjusted Performance

Very Weak

Over the last 90 days Apellis Pharmaceuticals has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable essential indicators, Apellis Pharmaceuticals is not utilizing all of its potentials. The latest stock price uproar, may contribute to short-horizon losses for the private investors.

Intra Cellular Therapies

Risk-Adjusted Performance

Very Weak

Over the last 90 days Intra Cellular Therapies has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fairly strong fundamental indicators, Intra Cellular is not utilizing all of its potentials. The newest stock price confusion, may contribute to short-horizon losses for the traders.

Pair Trading with Apellis Pharmaceuticals and Intra Cellular

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

The idea behind Apellis Pharmaceuticals and Intra Cellular Therapies 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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.