Correlation Between Cellectis and Cingulate

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

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

Diversification Opportunities for Cellectis and Cingulate

0.0

Correlation Coefficient

Cellectis  Cingulate

Pay attention - limited upside

The 3 months correlation between Cellectis and Cingulate is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Cellectis SA and Cingulate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cingulate and Cellectis 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 Cellectis SA are associated (or correlated) with Cingulate. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cingulate has no effect on the direction of Cellectis i.e., Cellectis and Cingulate go up and down completely randomly.

Pair Corralation between Cellectis and Cingulate

If you would invest  254.00  in Cellectis SA on September 4, 2024 and sell it today you would earn a total of  0.00  from holding Cellectis SA or generate 0.0% return on investment over 90 days.

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

Cellectis SA  vs.  Cingulate

Cellectis SA

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Cellectis SA has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable essential indicators, Cellectis is not utilizing all of its potentials. The recent stock price disturbance, may contribute to mid-run losses for the stockholders.

Cingulate

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Cingulate has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's basic indicators remain nearly stable which may send shares a bit higher in January 2025. The current disturbance may also be a sign of long-run up-swing for the company stockholders.

Pair Trading with Cellectis and Cingulate

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

The idea behind Cellectis SA and Cingulate 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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.