Correlation Between Cellebrite and EverQuote
Can any of the company-specific risk be diversified away by investing in both Cellebrite and EverQuote 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 Cellebrite and EverQuote into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cellebrite DI and EverQuote Class A, you can compare the effects of market volatilities on Cellebrite and EverQuote 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 Cellebrite with a short position of EverQuote. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cellebrite and EverQuote.
Diversification Opportunities for Cellebrite and EverQuote
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Cellebrite and EverQuote is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Cellebrite DI and EverQuote Class A in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EverQuote Class A and Cellebrite 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 Cellebrite DI are associated (or correlated) with EverQuote. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EverQuote Class A has no effect on the direction of Cellebrite i.e., Cellebrite and EverQuote go up and down completely randomly.
Pair Corralation between Cellebrite and EverQuote
Given the investment horizon of 90 days Cellebrite DI is expected to generate 1.29 times more return on investment than EverQuote. However, Cellebrite is 1.29 times more volatile than EverQuote Class A. It trades about 0.08 of its potential returns per unit of risk. EverQuote Class A is currently generating about 0.06 per unit of risk. If you would invest 1,616 in Cellebrite DI on August 17, 2025 and sell it today you would earn a total of 229.00 from holding Cellebrite DI or generate 14.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cellebrite DI vs. EverQuote Class A
Performance |
| Timeline |
| Cellebrite DI |
| EverQuote Class A |
Cellebrite and EverQuote Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cellebrite and EverQuote
The main advantage of trading using opposite Cellebrite and EverQuote positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cellebrite position performs unexpectedly, EverQuote 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 EverQuote will offset losses from the drop in EverQuote's long position.| Cellebrite vs. VeriSign | Cellebrite vs. Affirm Holdings | Cellebrite vs. Check Point Software | Cellebrite vs. CyberArk Software |
| EverQuote vs. Shutterstock | EverQuote vs. Getty Images Holdings | EverQuote vs. Autohome | EverQuote vs. Fiverr International |
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.
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