Correlation Between Telomir Pharmaceuticals, and Celldex Therapeutics

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

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

Diversification Opportunities for Telomir Pharmaceuticals, and Celldex Therapeutics

-0.51

Correlation Coefficient

Telomir Pharmaceuticals,  Celldex Therapeutics

Excellent diversification

The 3 months correlation between Telomir and Celldex is -0.51. Overlapping area represents the amount of risk that can be diversified away by holding Telomir Pharmaceuticals, Commo and Celldex Therapeutics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Celldex Therapeutics and Telomir Pharmaceuticals, 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 Telomir Pharmaceuticals, Common are associated (or correlated) with Celldex Therapeutics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Celldex Therapeutics has no effect on the direction of Telomir Pharmaceuticals, i.e., Telomir Pharmaceuticals, and Celldex Therapeutics go up and down completely randomly.

Pair Corralation between Telomir Pharmaceuticals, and Celldex Therapeutics

Given the investment horizon of 90 days Telomir Pharmaceuticals, is expected to generate 2.4 times less return on investment than Celldex Therapeutics. In addition to that, Telomir Pharmaceuticals, is 3.36 times more volatile than Celldex Therapeutics. It trades about 0.01 of its total potential returns per unit of risk. Celldex Therapeutics is currently generating about 0.06 per unit of volatility. If you would invest  2,066  in Celldex Therapeutics on May 2, 2025 and sell it today you would earn a total of  215.00  from holding Celldex Therapeutics or generate 10.41% return on investment over 90 days.

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

Telomir Pharmaceuticals, Commo  vs.  Celldex Therapeutics

Telomir Pharmaceuticals,

Risk-Adjusted Performance

Very Weak

Over the last 90 days Telomir Pharmaceuticals, Common has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy essential indicators, Telomir Pharmaceuticals, is not utilizing all of its potentials. The recent stock price disarray, may contribute to short-term losses for the investors.

Celldex Therapeutics

Risk-Adjusted Performance

Insignificant

Compared to the overall equity markets, risk-adjusted returns on investments in Celldex Therapeutics are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. In spite of fairly weak fundamental indicators, Celldex Therapeutics showed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Telomir Pharmaceuticals, and Celldex Therapeutics

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

The idea behind Telomir Pharmaceuticals, Common and Celldex Therapeutics 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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.