Correlation Between MacroGenics and Cellectis

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

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

Diversification Opportunities for MacroGenics and Cellectis

0.1

Correlation Coefficient

MacroGenics  Cellectis

Average diversification

The 3 months correlation between MacroGenics and Cellectis is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding MacroGenics and Cellectis SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cellectis SA and MacroGenics 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 MacroGenics are associated (or correlated) with Cellectis. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cellectis SA has no effect on the direction of MacroGenics i.e., MacroGenics and Cellectis go up and down completely randomly.

Pair Corralation between MacroGenics and Cellectis

Given the investment horizon of 90 days MacroGenics is expected to generate 4.36 times less return on investment than Cellectis. But when comparing it to its historical volatility, MacroGenics is 1.02 times less risky than Cellectis. It trades about 0.03 of its potential returns per unit of risk. Cellectis SA is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest  151.00  in Cellectis SA on April 24, 2025 and sell it today you would earn a total of  82.00  from holding Cellectis SA or generate 54.3% return on investment over 90 days.

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

MacroGenics  vs.  Cellectis SA

MacroGenics

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in MacroGenics are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. In spite of fairly weak basic indicators, MacroGenics showed solid returns over the last few months and may actually be approaching a breakup point.

Cellectis SA

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Cellectis SA are ranked lower than 10 (%) 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.

Pair Trading with MacroGenics and Cellectis

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

The idea behind MacroGenics and Cellectis SA 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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.