Correlation Between Eagle Bancorp and Calidi Biotherapeutics

Can any of the company-specific risk be diversified away by investing in both Eagle Bancorp and Calidi Biotherapeutics 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 Eagle Bancorp and Calidi Biotherapeutics into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Eagle Bancorp Montana and Calidi Biotherapeutics, you can compare the effects of market volatilities on Eagle Bancorp and Calidi Biotherapeutics 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 Eagle Bancorp with a short position of Calidi Biotherapeutics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eagle Bancorp and Calidi Biotherapeutics.

Diversification Opportunities for Eagle Bancorp and Calidi Biotherapeutics

-0.74

Correlation Coefficient

Eagle Bancorp  Calidi Biotherapeutics

Pay attention - limited upside

The 3 months correlation between Eagle and Calidi is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Eagle Bancorp Montana and Calidi Biotherapeutics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calidi Biotherapeutics and Eagle Bancorp 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 Eagle Bancorp Montana are associated (or correlated) with Calidi Biotherapeutics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calidi Biotherapeutics has no effect on the direction of Eagle Bancorp i.e., Eagle Bancorp and Calidi Biotherapeutics go up and down completely randomly.

Pair Corralation between Eagle Bancorp and Calidi Biotherapeutics

Given the investment horizon of 90 days Eagle Bancorp Montana is expected to generate 0.14 times more return on investment than Calidi Biotherapeutics. However, Eagle Bancorp Montana is 7.21 times less risky than Calidi Biotherapeutics. It trades about 0.05 of its potential returns per unit of risk. Calidi Biotherapeutics is currently generating about -0.24 per unit of risk. If you would invest  1,572  in Eagle Bancorp Montana on August 5, 2025 and sell it today you would earn a total of  51.00  from holding Eagle Bancorp Montana or generate 3.24% return on investment over 90 days.

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

Eagle Bancorp Montana  vs.  Calidi Biotherapeutics

Eagle Bancorp Montana

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in Eagle Bancorp Montana are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively stable primary indicators, Eagle Bancorp is not utilizing all of its potentials. The latest stock price uproar, may contribute to short-horizon losses for the private investors.

Calidi Biotherapeutics

Risk-Adjusted Performance

Weakest

Over the last 90 days Calidi Biotherapeutics has generated negative risk-adjusted returns adding no value to investors with long positions. Despite inconsistent performance in the last few months, the Stock's fundamental indicators remain fairly strong which may send shares a bit higher in December 2025. The recent confusion may also be a sign of long-lasting up-swing for the firm traders.

Pair Trading with Eagle Bancorp and Calidi Biotherapeutics

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

The idea behind Eagle Bancorp Montana and Calidi Biotherapeutics 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 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.