Correlation Between Sight Sciences and ImmuCell

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

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

Diversification Opportunities for Sight Sciences and ImmuCell

-0.01

Correlation Coefficient

Sight Sciences  ImmuCell

Good diversification

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

Pair Corralation between Sight Sciences and ImmuCell

Given the investment horizon of 90 days Sight Sciences is expected to under-perform the ImmuCell. In addition to that, Sight Sciences is 1.51 times more volatile than ImmuCell. It trades about -0.05 of its total potential returns per unit of risk. ImmuCell is currently generating about 0.03 per unit of volatility. If you would invest  640.00  in ImmuCell on July 3, 2025 and sell it today you would earn a total of  20.00  from holding ImmuCell or generate 3.13% return on investment over 90 days.

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

Sight Sciences  vs.  ImmuCell

Sight Sciences

Risk-Adjusted Performance

Weakest

Over the last 90 days Sight Sciences has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of uncertain performance in the last few months, the Stock's technical indicators remain comparatively stable which may send shares a bit higher in November 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

ImmuCell

Risk-Adjusted Performance

Weakest

Compared to the overall equity markets, risk-adjusted returns on investments in ImmuCell are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. In spite of rather sound fundamental indicators, ImmuCell is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.

Pair Trading with Sight Sciences and ImmuCell

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

The idea behind Sight Sciences and ImmuCell 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.