Correlation Between Cellectar Biosciences and CYCC Old

Can any of the company-specific risk be diversified away by investing in both Cellectar Biosciences and CYCC Old 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 Cellectar Biosciences and CYCC Old into the same portfolio, which is an essential part of the fundamental portfolio management process.

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

Diversification Opportunities for Cellectar Biosciences and CYCC Old

0.37

Correlation Coefficient

Cellectar Biosciences  CYCC Old

Weak diversification

The 3 months correlation between Cellectar and CYCC is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding Cellectar Biosciences and CYCC Old in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CYCC Old and Cellectar Biosciences 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 Cellectar Biosciences are associated (or correlated) with CYCC Old. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CYCC Old has no effect on the direction of Cellectar Biosciences i.e., Cellectar Biosciences and CYCC Old go up and down completely randomly.

Pair Corralation between Cellectar Biosciences and CYCC Old

Given the investment horizon of 90 days Cellectar Biosciences is expected to generate 0.71 times more return on investment than CYCC Old. However, Cellectar Biosciences is 1.4 times less risky than CYCC Old. It trades about -0.1 of its potential returns per unit of risk. CYCC Old is currently generating about -0.18 per unit of risk. If you would invest  506.00  in Cellectar Biosciences on August 4, 2025 and sell it today you would lose (167.00) from holding Cellectar Biosciences or give up 33.0% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	44.62%
Values	Daily Returns

Cellectar Biosciences  vs.  CYCC Old

Cellectar Biosciences

Risk-Adjusted Performance

Weakest

Over the last 90 days Cellectar Biosciences has generated negative risk-adjusted returns adding no value to investors with long positions. Despite uncertain performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in December 2025. The current disturbance may also be a sign of long term up-swing for the company investors.

CYCC Old

Risk-Adjusted Performance

Weakest

Over the last 90 days CYCC Old has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's fundamental indicators remain rather sound which may send shares a bit higher in December 2025. The latest tumult may also be a sign of longer-term up-swing for the firm shareholders.

Pair Trading with Cellectar Biosciences and CYCC Old

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

The idea behind Cellectar Biosciences and CYCC Old 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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.