Alvotech Correlations

ALVO Stock

USD 5.42 0.13 2.46%

The current 90-days correlation between Alvotech and Golub Capital BDC is -0.33 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Alvotech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Alvotech moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Alvotech Correlation With Market

Very good diversification

The correlation between Alvotech and DJI is -0.24 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alvotech and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Alvotech Stock

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

To learn how to invest in Alvotech Stock, please use our How to Invest in Alvotech guide.

Moving together with Alvotech Stock

0.85	XBIO	Xenetic Biosciences	Pair Corr
0.73	OGEN	Oragenics	Pair Corr
0.69	KG	Kestrel Group Symbol Change	Pair Corr
0.65	MSFT	Microsoft	Pair Corr

Moving against Alvotech Stock

0.52	JRVR	James River Group	Pair Corr
0.51	ZYME	Zymeworks Common Stock	Pair Corr
0.51	CUB	Lionheart Holdings	Pair Corr
0.49	LION	Lionsgate Studios Holding	Pair Corr
0.48	SUNFF	Sun Life Financial	Pair Corr
0.43	UPB	Upstream Bio	Pair Corr
0.4	ARDX	Ardelyx Sell-off Trend	Pair Corr
0.4	KNYJF	KONE Oyj Earnings Call This Week	Pair Corr
0.49	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.47	JNJ	Johnson Johnson	Pair Corr
0.43	VZ	Verizon Communications Earnings Call Today	Pair Corr
0.42	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.41	CAT	Caterpillar	Pair Corr
0.4	AA	Alcoa Corp	Pair Corr
0.4	JPM	JPMorgan Chase	Pair Corr
0.35	BAC	Bank of America Aggressive Push	Pair Corr

Related Correlations Analysis

	SEIC	WILLF	CCHBF	GBDC	NFTY	ORIC	BCRD	BWA	OAK-PB
SEIC		0.14	0.62	0.29	-0.33	-0.46	-0.14	0.91	-0.05	SEIC
WILLF	0.14		-0.12	0.21	-0.2	0.54	-0.09	0.23	0.64	WILLF
CCHBF	0.62	-0.12		0.14	-0.39	-0.61	-0.4	0.56	-0.11	CCHBF
GBDC	0.29	0.21	0.14		-0.28	0.07	-0.13	0.19	0.28	GBDC
NFTY	-0.33	-0.2	-0.39	-0.28		-0.03	0.01	-0.4	-0.21	NFTY
ORIC	-0.46	0.54	-0.61	0.07	-0.03		0.25	-0.33	0.58	ORIC
BCRD	-0.14	-0.09	-0.4	-0.13	0.01	0.25		-0.13	-0.06	BCRD
BWA	0.91	0.23	0.56	0.19	-0.4	-0.33	-0.13		0.04	BWA
OAK-PB	-0.05	0.64	-0.11	0.28	-0.21	0.58	-0.06	0.04		OAK-PB
	SEIC	WILLF	CCHBF	GBDC	NFTY	ORIC	BCRD	BWA	OAK-PB

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

BWA	+ 0.91	SEIC
OAK-PB	+ 0.64	WILLF
CCHBF	+ 0.62	SEIC
OAK-PB	+ 0.58	ORIC
BWA	+ 0.56	CCHBF
ORIC	+ 0.54	WILLF

High negative correlations

ORIC	- 0.61	CCHBF
ORIC	- 0.46	SEIC
BWA	- 0.4	NFTY
BCRD	- 0.4	CCHBF
NFTY	- 0.39	CCHBF
BWA	- 0.33	ORIC

Risk-Adjusted Indicators

There is a big difference between Alvotech Stock performing well and Alvotech 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 Alvotech'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
SEIC	0.96	0.06	0.05	0.11	1.08	(1.03)	2.10	(1.49)	7.41
WILLF	0.43	0.00	0.00	0.08	0.00	0.00	2.32	(1.28)	8.87
CCHBF	0.53	0.17	0.00	(1.01)	0.00	0.00	3.20	0.00	11.95
GBDC	0.70	(0.04)	0.00	(0.13)	0.00	0.00	1.37	(1.31)	3.53
NFTY	0.56	(0.10)	0.00	(0.25)	0.00	0.00	0.82	(0.99)	3.79
ORIC	2.81	(0.14)	0.00	(0.32)	0.00	0.00	6.63	(4.48)	15.34
BCRD	4.90	1.26	0.06	(0.17)	7.12	(12.38)	2.41	(8.76)	187.41
BWA	1.23	0.11	0.07	0.14	1.55	(1.34)	3.51	(2.90)	8.11
OAK-PB	0.54	0.01	(0.05)	0.19	0.76	(0.62)	1.34	(0.99)	4.82

Alvotech Corporate Management

Christina Siniscalchi	Interim Officer	Profile
Ming Li	Chief Officer	Profile
Harshika Sarbajna	Senior America	Profile
RoseMarie Ohlsson	Chief Officer	Profile
Giedrius Zunda	Chief Officer	Profile
Sean Gaskell	Chief Officer	Profile
Uri Hillel	Chief Officer	Profile

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