Aldeyra Correlations

ALDX Stock

USD 5.46 0.04 0.73%

The current 90-days correlation between Aldeyra and AC Immune is 0.11 (i.e., Average diversification). The correlation of Aldeyra 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.

Aldeyra Correlation With Market

Good diversification

The correlation between Aldeyra and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aldeyra and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Aldeyra Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Aldeyra. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in discontinued.

For more information on how to buy Aldeyra Stock please use our How to Invest in Aldeyra guide.

Moving together with Aldeyra Stock

0.62	CMB	Cambium Bio	Pair Corr
0.63	DNTH	Dianthus Therapeutics	Pair Corr

Moving against Aldeyra Stock

0.48	RAC	Race Oncology	Pair Corr
0.35	VCYT	Veracyte	Pair Corr
0.41	DRUG	Bright Minds Biosciences	Pair Corr
0.39	DXB	Dimerix	Pair Corr
0.46	BIM	Biomerieux SA	Pair Corr
0.32	9OF	BIORESTORATTHERAPDL	Pair Corr

Related Correlations Analysis

	ACIU	MREO	SLN	CLLS	GNLX	CTNM	ANRO	AMRN	CADL	KYTX
ACIU		-0.29	-0.05	-0.01	-0.24	-0.37	0.07	-0.07	0.55	0.58	ACIU
MREO	-0.29		0.77	0.65	0.79	-0.42	-0.27	-0.09	-0.2	-0.1	MREO
SLN	-0.05	0.77		0.86	0.88	-0.72	-0.25	-0.02	-0.26	0.12	SLN
CLLS	-0.01	0.65	0.86		0.85	-0.66	-0.3	0.03	-0.25	0.15	CLLS
GNLX	-0.24	0.79	0.88	0.85		-0.61	-0.4	-0.08	-0.47	-0.12	GNLX
CTNM	-0.37	-0.42	-0.72	-0.66	-0.61		0.35	-0.03	0.15	-0.09	CTNM
ANRO	0.07	-0.27	-0.25	-0.3	-0.4	0.35		-0.44	0.4	0.31	ANRO
AMRN	-0.07	-0.09	-0.02	0.03	-0.08	-0.03	-0.44		-0.25	-0.16	AMRN
CADL	0.55	-0.2	-0.26	-0.25	-0.47	0.15	0.4	-0.25		0.61	CADL
KYTX	0.58	-0.1	0.12	0.15	-0.12	-0.09	0.31	-0.16	0.61		KYTX
	ACIU	MREO	SLN	CLLS	GNLX	CTNM	ANRO	AMRN	CADL	KYTX

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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

GNLX	+ 0.88	SLN
CLLS	+ 0.86	SLN
GNLX	+ 0.85	CLLS
GNLX	+ 0.79	MREO
SLN	+ 0.77	MREO
CLLS	+ 0.65	MREO

High negative correlations

CTNM	- 0.72	SLN
CTNM	- 0.66	CLLS
CTNM	- 0.61	GNLX
CADL	- 0.47	GNLX
AMRN	- 0.44	ANRO
CTNM	- 0.42	MREO

Risk-Adjusted Indicators

There is a big difference between Aldeyra Stock performing well and Aldeyra 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 Aldeyra'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
ACIU	3.62	(0.10)	0.00	0.03	4.54	(3.93)	7.29	(8.38)	26.05
MREO	7.16	(0.42)	0.00	(0.10)	0.00	0.00	16.33	(9.52)	101.95
SLN	3.22	(0.17)	0.00	(0.31)	0.00	0.00	7.72	(5.89)	23.80
CLLS	3.58	(0.27)	0.00	(0.17)	0.00	0.00	6.88	(7.69)	29.31
GNLX	3.37	(0.53)	0.00	0.94	0.00	0.00	5.67	(8.91)	30.41
CTNM	3.08	0.62	0.12	(2.27)	3.58	(3.40)	7.89	(5.39)	23.16
ANRO	3.50	0.69	0.13	3.12	4.15	(3.63)	7.87	(7.29)	23.67
AMRN	2.36	(0.26)	0.00	(0.30)	0.00	0.00	4.94	(4.37)	26.36
CADL	3.35	0.13	0.05	0.14	4.31	(3.67)	7.74	(7.36)	27.69
KYTX	5.03	0.43	0.05	0.67	7.61	(5.24)	9.57	(9.02)	55.75

Aldeyra Corporate Management

David Burke	Head Relations	Profile
Michael Alfieri	Principal Officer	Profile
Kelly Mizer	Vice Operations	Profile
Laura Nichols	Operations Manager	Profile

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