Correlation Between Akeso, and Cellectis
Can any of the company-specific risk be diversified away by investing in both Akeso, 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 Akeso, and Cellectis into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Akeso, Inc and Cellectis SA, you can compare the effects of market volatilities on Akeso, 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 Akeso, with a short position of Cellectis. Check out your portfolio center. Please also check ongoing floating volatility patterns of Akeso, and Cellectis.
Diversification Opportunities for Akeso, and Cellectis
Pay attention - limited upside
The 3 months correlation between Akeso, and Cellectis is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Akeso, Inc and Cellectis SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cellectis SA and Akeso, 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 Akeso, Inc 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 Akeso, i.e., Akeso, and Cellectis go up and down completely randomly.
Pair Corralation between Akeso, and Cellectis
Assuming the 90 days horizon Akeso, Inc is expected to generate 1.9 times more return on investment than Cellectis. However, Akeso, is 1.9 times more volatile than Cellectis SA. It trades about 0.07 of its potential returns per unit of risk. Cellectis SA is currently generating about 0.0 per unit of risk. If you would invest 500.00 in Akeso, Inc on September 1, 2024 and sell it today you would earn a total of 460.00 from holding Akeso, Inc or generate 92.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.63% |
| Values | Daily Returns |
Akeso, Inc vs. Cellectis SA
Performance |
| Timeline |
| Akeso, Inc |
| Cellectis SA |
Akeso, and Cellectis Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Akeso, and Cellectis
The main advantage of trading using opposite Akeso, and Cellectis positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Akeso, 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 Akeso, Inc 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.| Cellectis vs. Covalon Technologies | Cellectis vs. biOasis Technologies | Cellectis vs. Mosaic Immunoengineering | Cellectis vs. Biotron Limited |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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