Correlation Between Cellectis and Apellis Pharmaceuticals

Specify exactly 2 symbols:
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 Period3 Months [change]
DirectionMoves Together 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Cellectis SA  vs.  Apellis Pharmaceuticals

 Performance 
       Timeline  
Cellectis SA 

Risk-Adjusted Performance

Good

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Cellectis SA are ranked lower than 12 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively weak essential indicators, Cellectis unveiled solid returns over the last few months and may actually be approaching a breakup point.
Apellis Pharmaceuticals 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
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.

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.
The idea behind Cellectis SA and Apellis Pharmaceuticals 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.
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.

Other Complementary Tools

Portfolio Diagnostics
Use generated alerts and portfolio events aggregator to diagnose current holdings
Portfolio Holdings
Check your current holdings and cash postion to detemine if your portfolio needs rebalancing
Commodity Channel
Use Commodity Channel Index to analyze current equity momentum
Price Transformation
Use Price Transformation models to analyze the depth of different equity instruments across global markets
ETFs
Find actively traded Exchange Traded Funds (ETF) from around the world