Aldeyra Correlations

ALDX Stock

USD 4.85 0.04 0.83%

The current 90-days correlation between Aldeyra and Eton Pharmaceuticals is 0.02 (i.e., Significant 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

Weak diversification

The correlation between Aldeyra and DJI is 0.36 (i.e., Weak 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.

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 unemployment.

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	VALN	Valneva SE ADR	Pair Corr
0.84	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.73	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.7	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.76	NKTX	Nkarta Inc	Pair Corr
0.63	AGL	agilon health	Pair Corr
0.66	TCHH	Trustcash Holdings	Pair Corr
0.64	HYMTF	Hyundai Motor	Pair Corr
0.78	TLK	Telkom Indonesia Tbk	Pair Corr

Moving against Aldeyra Stock

0.49	KZR	Kezar Life Sciences	Pair Corr
0.44	MDGL	Madrigal Pharmaceuticals	Pair Corr
0.82	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.67	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.66	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.66	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.64	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.62	HPQ	HP Inc	Pair Corr
0.56	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.56	HD	Home Depot	Pair Corr
0.46	T	ATT Inc Aggressive Push	Pair Corr
0.34	KB	KB Financial Group	Pair Corr

Related Correlations Analysis

	TARS	LIAN	TVTX	ETON	VRDN	TERN	GPCR	BPMC	ETNB	XFOR
TARS		0.18	0.87	0.91	0.58	-0.6	-0.43	0.31	0.27	-0.73	TARS
LIAN	0.18		0.45	0.23	0.63	0.11	0.38	-0.13	-0.44	-0.11	LIAN
TVTX	0.87	0.45		0.89	0.82	-0.44	-0.27	-0.03	-0.05	-0.73	TVTX
ETON	0.91	0.23	0.89		0.62	-0.72	-0.5	0.18	0.07	-0.89	ETON
VRDN	0.58	0.63	0.82	0.62		-0.18	0.21	-0.1	-0.25	-0.4	VRDN
TERN	-0.6	0.11	-0.44	-0.72	-0.18		0.51	-0.25	-0.19	0.76	TERN
GPCR	-0.43	0.38	-0.27	-0.5	0.21	0.51		-0.15	-0.25	0.58	GPCR
BPMC	0.31	-0.13	-0.03	0.18	-0.1	-0.25	-0.15		0.67	0.03	BPMC
ETNB	0.27	-0.44	-0.05	0.07	-0.25	-0.19	-0.25	0.67		0.12	ETNB
XFOR	-0.73	-0.11	-0.73	-0.89	-0.4	0.76	0.58	0.03	0.12		XFOR
	TARS	LIAN	TVTX	ETON	VRDN	TERN	GPCR	BPMC	ETNB	XFOR

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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

ETON	+ 0.91	TARS
ETON	+ 0.89	TVTX
TVTX	+ 0.87	TARS
VRDN	+ 0.82	TVTX
XFOR	+ 0.76	TERN
ETNB	+ 0.67	BPMC

High negative correlations

XFOR	- 0.89	ETON
XFOR	- 0.73	TVTX
XFOR	- 0.73	TARS
TERN	- 0.72	ETON
TERN	- 0.6	TARS
GPCR	- 0.5	ETON

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
TARS	2.74	0.93	0.40	1.25	1.79	(3.63)	8.19	(3.85)	16.85
LIAN	2.99	0.05	0.01	0.19	3.34	(3.44)	6.76	(5.00)	20.98
TVTX	3.09	1.08	0.42	0.95	1.92	(4.07)	11.58	(4.13)	23.97
ETON	2.67	1.39	0.46	1.22	1.77	(3.48)	7.56	(3.13)	21.89
VRDN	3.11	0.34	0.09	0.45	3.45	(3.66)	6.84	(5.29)	44.89
TERN	3.37	(0.50)	0.00	(0.29)	0.00	0.00	5.68	(5.96)	34.09
GPCR	2.96	(0.25)	0.00	(0.24)	0.00	0.00	8.18	(6.07)	24.50
BPMC	1.84	(0.12)	(0.03)	0.03	2.61	(1.73)	4.90	(3.62)	14.28
ETNB	2.79	(0.22)	0.00	0.04	3.29	(3.41)	5.19	(6.35)	27.43
XFOR	4.97	(0.84)	0.00	(0.45)	0.00	0.00	6.90	(10.61)	62.35

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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