Novavax Correlations

0A3S Stock

11.90 3.06 34.62%

The current 90-days correlation between Novavax and Evolution Gaming Group is -0.04 (i.e., Good diversification). The correlation of Novavax 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.

Novavax Correlation With Market

Good diversification

The correlation between Novavax and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Novavax and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Novavax could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Novavax when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Novavax - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Novavax to buy it.

Moving against Novavax Stock

0.54	0I9F	Digital Realty Trust	Pair Corr
0.47	0K7U	News Corp Cl	Pair Corr
0.47	DEC	Diversified Energy	Pair Corr
0.31	0KIT	Pinnacle West Capital	Pair Corr

Related Correlations Analysis

	TMIP	0RQ6	BMY	0K2K	0K76	INV	LORD	FEVR
TMIP		0.27	0.53	-0.41	-0.08	-0.32	0.3	0.39	TMIP
0RQ6	0.27		0.5	-0.23	0.31	-0.09	0.65	0.4	0RQ6
BMY	0.53	0.5		-0.13	-0.22	0.15	0.11	0.05	BMY
0K2K	-0.41	-0.23	-0.13		-0.16	0.43	-0.27	-0.69	0K2K
0K76	-0.08	0.31	-0.22	-0.16		-0.43	0.67	0.5	0K76
INV	-0.32	-0.09	0.15	0.43	-0.43		-0.38	-0.73	INV
LORD	0.3	0.65	0.11	-0.27	0.67	-0.38		0.61	LORD
FEVR	0.39	0.4	0.05	-0.69	0.5	-0.73	0.61		FEVR
	TMIP	0RQ6	BMY	0K2K	0K76	INV	LORD	FEVR

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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

LORD	+ 0.67	0K76
LORD	+ 0.65	0RQ6
FEVR	+ 0.61	LORD
BMY	+ 0.53	TMIP
BMY	+ 0.5	0RQ6
FEVR	+ 0.5	0K76

High negative correlations

FEVR	- 0.73	INV
FEVR	- 0.69	0K2K
INV	- 0.43	0K76
0K2K	- 0.41	TMIP
LORD	- 0.38	INV
INV	- 0.32	TMIP

Risk-Adjusted Indicators

There is a big difference between Novavax Stock performing well and Novavax 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 Novavax's 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TMIP	1.24	(0.20)	0.00	(0.22)	0.00	0.00	2.60	(2.53)	6.90
0RQ6	1.05	(0.11)	0.00	0.34	0.00	0.00	1.57	(2.59)	17.26
BMY	1.63	(0.04)	0.00	0.22	0.00	0.00	3.61	(3.25)	13.25
0K2K	1.20	0.21	0.08	1.32	1.08	(1.38)	2.81	(2.04)	9.53
0K76	0.86	(0.08)	0.00	(0.11)	0.00	0.00	1.86	(1.32)	6.93
INV	0.30	0.03	(0.13)	1.58	0.27	(0.93)	1.35	(0.80)	2.70
LORD	1.47	(0.35)	0.00	(0.96)	0.00	0.00	2.70	(3.95)	18.08
FEVR	1.53	(0.33)	0.00	2.26	0.00	0.00	2.98	(3.32)	14.39

Be your own money manager

Our tools can tell you how much better you can do entering a position in Novavax without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Novavax Corporate Management

Elected by the shareholders, the Novavax's board of directors comprises two types of representatives: Novavax inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Novavax. The board's role is to monitor Novavax's management team and ensure that shareholders' interests are well served. Novavax's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Novavax's outside directors are responsible for providing unbiased perspectives on the board's policies.

Mark Casey	Chief VP	Profile
JD Esq	Senior Officer	Profile
Robert MD	Senior Officer	Profile
Ian Watkins	Executive Officer	Profile

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