BAX vs CELC: Correlation
How closely do Baxter International (BAX) and Celcuity Inc. (CELC) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAX and CELC?
Over the past 3 years, BAX and CELC moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.11 versus -0.25 over 3 years. Over 5 years the correlation is -0.20, and the annualized covariance of weekly returns is -1176.7 %².
Among the 43 assets we track against BAX, CELC sits near the bottom by co-movement, at rank #40. Correlation aside, the last 12 months split them widely, with CELC ahead by 80.0 points (+6.6% versus +86.6%). Note the risk asymmetry: CELC runs 3.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BAX vs CELC: side by side
| BAX (Baxter International) | CELC (Celcuity Inc.) | |
|---|---|---|
| 1-year return | +6.6% | +86.6% |
| 5-year return | -62.2% | +324.8% |
| Volatility (ann.) | 38.4% | 124.5% |
| Beta vs S&P 500 | 0.89 | 0.76 |
| Max drawdown (3Y) | -62.4% | -62.0% |
| Market cap | $13.4B | $4.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.75% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | BAX | CELC |
|---|---|---|
| 2022 | -39.6% | +6.2% |
| 2023 | -21.9% | +4.0% |
| 2024 | -22.4% | -10.2% |
| 2025 | -33.3% | +662.0% |
| 2026 | +35.8% | -6.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAX and CELC good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between BAX and CELC?
The BAX/CELC correlation stands at -0.25 on a 3-year window (1 year: 0.11, 5 years: -0.20), computed from weekly returns as of 2026-08-27.
Is CELC a good diversifier for BAX?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
A reading of -0.25 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bax-vs-celc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bax-vs-celc/)
The core API is free. Terms and every endpoint in the API documentation.
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Hubs: BAX correlations · CELC correlations
