Alvotech Correlations

ALVO Stock

USD 4.90 0.10 2.00%

The current 90-days correlation between Alvotech and Tilray Inc is -0.04 (i.e., 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

Modest diversification

The correlation between Alvotech and DJI is 0.21 (i.e., Modest 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 services.

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

Moving together with Alvotech Stock

0.65	PG	Procter Gamble	Pair Corr
0.8	HPQ	HP Inc	Pair Corr
0.83	HD	Home Depot	Pair Corr
0.79	MSFT	Microsoft Sell-off Trend	Pair Corr

Moving against Alvotech Stock

0.86	AMGN	Amgen Inc	Pair Corr
0.83	CSCO	Cisco Systems	Pair Corr
0.76	FTV	Fortive Corp	Pair Corr
0.76	CAT	Caterpillar	Pair Corr
0.74	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.73	TRV	The Travelers Companies	Pair Corr
0.72	AXP	American Express	Pair Corr
0.72	KO	Coca Cola	Pair Corr
0.71	MRK	Merck Company	Pair Corr
0.69	BAC	Bank of America	Pair Corr
0.68	GILD	Gilead Sciences	Pair Corr
0.64	IBM	International Business	Pair Corr
0.57	MMM	3M Company	Pair Corr
0.51	JPM	JPMorgan Chase	Pair Corr
0.47	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	TLRY	PAHC	EVO	UFPT	PGNY	SEM	AMPH	BHVN	COLL	HROW
TLRY		-0.22	0.75	-0.65	-0.71	-0.57	-0.55	0.74	-0.84	-0.34	TLRY
PAHC	-0.22		-0.21	0.31	0.06	-0.17	0.12	-0.4	0.17	-0.51	PAHC
EVO	0.75	-0.21		-0.82	-0.89	-0.4	-0.58	0.91	-0.92	-0.38	EVO
UFPT	-0.65	0.31	-0.82		0.71	0.35	0.63	-0.86	0.81	0.23	UFPT
PGNY	-0.71	0.06	-0.89	0.71		0.56	0.67	-0.75	0.91	0.54	PGNY
SEM	-0.57	-0.17	-0.4	0.35	0.56		0.4	-0.27	0.64	0.52	SEM
AMPH	-0.55	0.12	-0.58	0.63	0.67	0.4		-0.61	0.67	0.5	AMPH
BHVN	0.74	-0.4	0.91	-0.86	-0.75	-0.27	-0.61		-0.82	-0.14	BHVN
COLL	-0.84	0.17	-0.92	0.81	0.91	0.64	0.67	-0.82		0.5	COLL
HROW	-0.34	-0.51	-0.38	0.23	0.54	0.52	0.5	-0.14	0.5		HROW
	TLRY	PAHC	EVO	UFPT	PGNY	SEM	AMPH	BHVN	COLL	HROW

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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

BHVN	+ 0.91	EVO
COLL	+ 0.91	PGNY
COLL	+ 0.81	UFPT
EVO	+ 0.75	TLRY
BHVN	+ 0.74	TLRY
PGNY	+ 0.71	UFPT

High negative correlations

COLL	- 0.92	EVO
PGNY	- 0.89	EVO
BHVN	- 0.86	UFPT
COLL	- 0.84	TLRY
COLL	- 0.82	BHVN
UFPT	- 0.82	EVO

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
TLRY	5.63	(0.54)	0.00	(0.95)	0.00	0.00	12.36	(9.56)	54.17
PAHC	1.97	(0.16)	0.00	(0.09)	0.00	0.00	3.97	(4.40)	12.56
EVO	2.22	(0.24)	0.00	(0.11)	0.00	0.00	3.58	(4.20)	19.20
UFPT	2.04	0.12	0.06	0.15	2.32	(2.25)	4.72	(4.31)	17.63
PGNY	2.22	0.30	0.11	0.53	2.35	(2.61)	4.97	(4.17)	29.36
SEM	1.35	0.17	0.12	0.18	1.18	(1.57)	3.49	(2.62)	13.50
AMPH	1.83	(0.09)	(0.02)	0.00	2.29	(1.90)	3.67	(3.89)	13.94
BHVN	4.45	(0.24)	0.00	(0.35)	0.00	0.00	9.97	(7.08)	52.54
COLL	1.54	0.38	0.20	0.56	1.34	(1.77)	3.89	(2.25)	18.17
HROW	2.86	(0.05)	0.02	0.04	3.46	(3.08)	6.42	(5.16)	21.38

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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