Celldex Therapeutics Correlations

CLDX Stock  USD 26.58  0.36  1.37%   
The current 90-days correlation between Celldex Therapeutics and Ideaya Biosciences is 0.24 (i.e., Modest diversification). The correlation of Celldex Therapeutics is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Celldex Therapeutics Correlation With Market

Weak diversification

The correlation between Celldex Therapeutics and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Celldex Therapeutics and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Celldex Therapeutics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.
For more information on how to buy Celldex Stock please use our How to Invest in Celldex Therapeutics guide.

Moving together with Celldex Stock

  0.72ME 23Andme HoldingPairCorr
  0.74VALN Valneva SE ADRPairCorr
  0.75VCNX VaccinexPairCorr
  0.73DRMA Dermata TherapeuticsPairCorr
  0.81DTIL Precision BioSciencesPairCorr
  0.87VINC Vincerx PharmaPairCorr
  0.7VRAX Virax Biolabs GroupPairCorr
  0.83VRCA Verrica PharmaceuticalsPairCorr
  0.7CDTTW Conduit PharmaceuticalsPairCorr
  0.62VTGN VistaGen TherapeuticsPairCorr

Moving against Celldex Stock

  0.78DRUG Bright Minds BiosciencesPairCorr
  0.69SABSW SAB BiotherapeuticsPairCorr
  0.61VCYT VeracytePairCorr
  0.61VERA Vera TherapeuticsPairCorr
  0.36DMAC DiaMedica TherapeuticsPairCorr
  0.36VANI Vivani MedicalPairCorr
  0.35DSGN Design TherapeuticsPairCorr
  0.82VRNA Verona Pharma PLCPairCorr
  0.71VSTM Verastem TrendingPairCorr
  0.56VRDN Viridian TherapeuticsPairCorr
  0.5DVAX Dynavax TechnologiesPairCorr
  0.48VTRS ViatrisPairCorr
  0.37KTTAW Pasithea TherapeuticsPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
RVMDMGTX
ANABIDYA
DAWNKROS
RNAKROS
KROSMGTX
FIXXANAB
  
High negative correlations   
RVMDANAB
MGTXANAB
RVMDIDYA
MGTXIDYA
SWTXRNA
SWTXKROS

Risk-Adjusted Indicators

There is a big difference between Celldex Stock performing well and Celldex Therapeutics Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Celldex Therapeutics' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
IDYA  2.25 (0.73) 0.00 (0.35) 0.00 
 4.15 
 15.21 
ANAB  3.55 (1.02) 0.00 (0.21) 0.00 
 5.77 
 35.57 
MGTX  2.78  0.51  0.19  0.36  2.71 
 6.75 
 21.07 
KROS  2.27  0.38  0.16  0.39  2.19 
 5.38 
 16.94 
FIXX  2.82  0.07  0.01  0.20  3.52 
 5.77 
 19.43 
CERE  0.77  0.09 (0.03)(0.59) 0.94 
 1.91 
 6.40 
RNA  3.01 (0.31) 0.00 (0.07) 0.00 
 5.78 
 27.94 
RVMD  2.20  0.09  0.04  0.17  3.03 
 4.81 
 16.40 
DAWN  2.04 (0.09)(0.04)(0.01) 2.71 
 3.84 
 11.44 
SWTX  2.14 (0.02)(0.02) 0.08  2.70 
 4.86 
 12.80 

Celldex Therapeutics Corporate Management

Ronald PepinChief Bus. Officer and Sr. VPProfile
Patrick TillSenior CommunicationsProfile
Prof SchlessingerCoFounder BoardProfile
Diane MDSenior OfficerProfile
Margo MDSenior AffairsProfile