Correlation Between Celcuity LLC and Spirent Communications
Can any of the company-specific risk be diversified away by investing in both Celcuity LLC and Spirent Communications 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 Celcuity LLC and Spirent Communications into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Celcuity LLC and Spirent Communications plc, you can compare the effects of market volatilities on Celcuity LLC and Spirent Communications 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 Celcuity LLC with a short position of Spirent Communications. Check out your portfolio center. Please also check ongoing floating volatility patterns of Celcuity LLC and Spirent Communications.
Diversification Opportunities for Celcuity LLC and Spirent Communications
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Celcuity and Spirent is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Celcuity LLC and Spirent Communications plc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Spirent Communications and Celcuity LLC 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 Celcuity LLC are associated (or correlated) with Spirent Communications. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Spirent Communications has no effect on the direction of Celcuity LLC i.e., Celcuity LLC and Spirent Communications go up and down completely randomly.
Pair Corralation between Celcuity LLC and Spirent Communications
Given the investment horizon of 90 days Celcuity LLC is expected to generate 11.55 times more return on investment than Spirent Communications. However, Celcuity LLC is 11.55 times more volatile than Spirent Communications plc. It trades about 0.16 of its potential returns per unit of risk. Spirent Communications plc is currently generating about 0.01 per unit of risk. If you would invest 6,253 in Celcuity LLC on September 6, 2025 and sell it today you would earn a total of 4,334 from holding Celcuity LLC or generate 69.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Celcuity LLC vs. Spirent Communications plc
Performance |
| Timeline |
| Celcuity LLC |
| Spirent Communications |
Celcuity LLC and Spirent Communications Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Celcuity LLC and Spirent Communications
The main advantage of trading using opposite Celcuity LLC and Spirent Communications positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Celcuity LLC position performs unexpectedly, Spirent Communications 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 Spirent Communications will offset losses from the drop in Spirent Communications' long position.| Celcuity LLC vs. Spirent Communications plc | Celcuity LLC vs. Quantum Medical Transport | Celcuity LLC vs. Iron Road Limited | Celcuity LLC vs. Video Display |
| Spirent Communications vs. CVR Medical Corp | Spirent Communications vs. Union Medical Healthcare | Spirent Communications vs. First Foods Group | Spirent Communications vs. BG Foods |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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