Correlation Between Cellectis and Apellis Pharmaceuticals
Can any of the company-specific risk be diversified away by investing in both Cellectis and Apellis Pharmaceuticals 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 Cellectis and Apellis Pharmaceuticals into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cellectis SA and Apellis Pharmaceuticals, you can compare the effects of market volatilities on Cellectis and Apellis Pharmaceuticals 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 Cellectis with a short position of Apellis Pharmaceuticals. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cellectis and Apellis Pharmaceuticals.
Diversification Opportunities for Cellectis and Apellis Pharmaceuticals
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Cellectis and Apellis is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Cellectis SA and Apellis Pharmaceuticals in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Apellis Pharmaceuticals and Cellectis 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 Cellectis SA are associated (or correlated) with Apellis Pharmaceuticals. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Apellis Pharmaceuticals has no effect on the direction of Cellectis i.e., Cellectis and Apellis Pharmaceuticals go up and down completely randomly.
Pair Corralation between Cellectis and Apellis Pharmaceuticals
Given the investment horizon of 90 days Cellectis SA is expected to generate 2.26 times more return on investment than Apellis Pharmaceuticals. However, Cellectis is 2.26 times more volatile than Apellis Pharmaceuticals. It trades about 0.15 of its potential returns per unit of risk. Apellis Pharmaceuticals is currently generating about -0.01 per unit of risk. If you would invest 161.00 in Cellectis SA on May 1, 2025 and sell it today you would earn a total of 120.00 from holding Cellectis SA or generate 74.53% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Cellectis SA vs. Apellis Pharmaceuticals
Performance |
Timeline |
Cellectis SA |
Apellis Pharmaceuticals |
Cellectis and Apellis Pharmaceuticals Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Cellectis and Apellis Pharmaceuticals
The main advantage of trading using opposite Cellectis and Apellis Pharmaceuticals positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cellectis position performs unexpectedly, Apellis Pharmaceuticals 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 Apellis Pharmaceuticals will offset losses from the drop in Apellis Pharmaceuticals' long position.Cellectis vs. Innate Pharma | Cellectis vs. Genfit SA | Cellectis vs. MeiraGTx Holdings PLC | Cellectis vs. C4 Therapeutics |
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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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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