Correlation Between Rigetti Computing and Axcelis Technologies

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

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

Diversification Opportunities for Rigetti Computing and Axcelis Technologies

-0.01

Correlation Coefficient

Rigetti Computing  Axcelis Technologies

Good diversification

The 3 months correlation between Rigetti and Axcelis is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Rigetti Computing and Axcelis Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Axcelis Technologies and Rigetti Computing 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 Rigetti Computing are associated (or correlated) with Axcelis Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Axcelis Technologies has no effect on the direction of Rigetti Computing i.e., Rigetti Computing and Axcelis Technologies go up and down completely randomly.

Pair Corralation between Rigetti Computing and Axcelis Technologies

Given the investment horizon of 90 days Rigetti Computing is expected to under-perform the Axcelis Technologies. In addition to that, Rigetti Computing is 2.19 times more volatile than Axcelis Technologies. It trades about -0.09 of its total potential returns per unit of risk. Axcelis Technologies is currently generating about 0.17 per unit of volatility. If you would invest  8,051  in Axcelis Technologies on September 5, 2025 and sell it today you would earn a total of  884.00  from holding Axcelis Technologies or generate 10.98% return on investment over 90 days.

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

Rigetti Computing  vs.  Axcelis Technologies

Rigetti Computing

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Rigetti Computing are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. Despite fairly unfluctuating basic indicators, Rigetti Computing demonstrated solid returns over the last few months and may actually be approaching a breakup point.

Axcelis Technologies

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in Axcelis Technologies are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively weak essential indicators, Axcelis Technologies may actually be approaching a critical reversion point that can send shares even higher in January 2026.

Pair Trading with Rigetti Computing and Axcelis Technologies

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

The idea behind Rigetti Computing and Axcelis Technologies 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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..