Correlation Between Cellectis and Axim Biotechnologies
Can any of the company-specific risk be diversified away by investing in both Cellectis and Axim Biotechnologies 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 Axim Biotechnologies into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cellectis SA and Axim Biotechnologies, you can compare the effects of market volatilities on Cellectis and Axim Biotechnologies 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 Axim Biotechnologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cellectis and Axim Biotechnologies.
Diversification Opportunities for Cellectis and Axim Biotechnologies
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cellectis and Axim is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Cellectis SA and Axim Biotechnologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Axim Biotechnologies 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 Axim Biotechnologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Axim Biotechnologies has no effect on the direction of Cellectis i.e., Cellectis and Axim Biotechnologies go up and down completely randomly.
Pair Corralation between Cellectis and Axim Biotechnologies
If you would invest 254.00 in Cellectis SA on August 27, 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. Axim Biotechnologies
Performance |
| Timeline |
| Cellectis SA |
| Axim Biotechnologies |
Cellectis and Axim Biotechnologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cellectis and Axim Biotechnologies
The main advantage of trading using opposite Cellectis and Axim Biotechnologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cellectis position performs unexpectedly, Axim Biotechnologies 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 Axim Biotechnologies will offset losses from the drop in Axim Biotechnologies' long position.The idea behind Cellectis SA and Axim Biotechnologies 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.| Axim Biotechnologies vs. Cellectis SA | Axim Biotechnologies vs. Biotron Limited | Axim Biotechnologies vs. Regenicin | Axim Biotechnologies vs. biOasis Technologies |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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