Correlation Between C4 Therapeutics and Protalix Biotherapeutics
Can any of the company-specific risk be diversified away by investing in both C4 Therapeutics and Protalix Biotherapeutics 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 C4 Therapeutics and Protalix Biotherapeutics into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between C4 Therapeutics and Protalix Biotherapeutics, you can compare the effects of market volatilities on C4 Therapeutics and Protalix Biotherapeutics 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 C4 Therapeutics with a short position of Protalix Biotherapeutics. Check out your portfolio center. Please also check ongoing floating volatility patterns of C4 Therapeutics and Protalix Biotherapeutics.
Diversification Opportunities for C4 Therapeutics and Protalix Biotherapeutics
-0.48 | Correlation Coefficient |
Very good diversification
The 3 months correlation between CCCC and Protalix is -0.48. Overlapping area represents the amount of risk that can be diversified away by holding C4 Therapeutics and Protalix Biotherapeutics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Protalix Biotherapeutics and C4 Therapeutics 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 C4 Therapeutics are associated (or correlated) with Protalix Biotherapeutics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Protalix Biotherapeutics has no effect on the direction of C4 Therapeutics i.e., C4 Therapeutics and Protalix Biotherapeutics go up and down completely randomly.
Pair Corralation between C4 Therapeutics and Protalix Biotherapeutics
Given the investment horizon of 90 days C4 Therapeutics is expected to generate 23.02 times less return on investment than Protalix Biotherapeutics. In addition to that, C4 Therapeutics is 1.24 times more volatile than Protalix Biotherapeutics. It trades about 0.0 of its total potential returns per unit of risk. Protalix Biotherapeutics is currently generating about 0.09 per unit of volatility. If you would invest 153.00 in Protalix Biotherapeutics on August 19, 2025 and sell it today you would earn a total of 33.00 from holding Protalix Biotherapeutics or generate 21.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 96.92% |
| Values | Daily Returns |
C4 Therapeutics vs. Protalix Biotherapeutics
Performance |
| Timeline |
| C4 Therapeutics |
| Protalix Biotherapeutics |
C4 Therapeutics and Protalix Biotherapeutics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with C4 Therapeutics and Protalix Biotherapeutics
The main advantage of trading using opposite C4 Therapeutics and Protalix Biotherapeutics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if C4 Therapeutics position performs unexpectedly, Protalix Biotherapeutics 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 Protalix Biotherapeutics will offset losses from the drop in Protalix Biotherapeutics' long position.| C4 Therapeutics vs. Insight Molecular Diagnostics | C4 Therapeutics vs. Sangamo Therapeutics | C4 Therapeutics vs. Cybin Inc | C4 Therapeutics vs. Molecular Partners AG |
| Protalix Biotherapeutics vs. Sellas Life Sciences | Protalix Biotherapeutics vs. Coherus BioSciences | Protalix Biotherapeutics vs. Invivyd | Protalix Biotherapeutics vs. Protara Therapeutics |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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