Amphastar Correlations

AMPH Stock

USD 28.50 0.95 3.45%

The current 90-days correlation between Amphastar P and Takeda Pharmaceutical Co is 0.2 (i.e., Modest diversification). The correlation of Amphastar 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.

Amphastar Correlation With Market

Very weak diversification

The correlation between Amphastar P and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amphastar P and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Amphastar Stock

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

Moving against Amphastar Stock

0.44	21P	Aurora Cannabis	Pair Corr
0.56	3ZQ0	AYURCANN HOLDINGS	Pair Corr
0.48	ACB	Aurora Cannabis	Pair Corr
0.43	BGM	Qilian International Earnings Call This Week	Pair Corr
0.38	EOLS	Evolus Inc	Pair Corr
0.37	FULC	Fulcrum Therapeutics	Pair Corr
0.34	ETON	Eton Pharmaceuticals	Pair Corr

Related Correlations Analysis

	COR	REGN	IDXX	HLN	CI	ELV	BDX	ARGX	TAK
COR		-0.2	0.04	0.16	0.1	-0.42	0.02	0.32	0.26	COR
REGN	-0.2		-0.16	0.53	0.7	0.46	0.53	-0.5	0.01	REGN
IDXX	0.04	-0.16		-0.74	-0.45	0.07	-0.58	0.38	-0.55	IDXX
HLN	0.16	0.53	-0.74		0.77	0.1	0.81	-0.56	0.7	HLN
CI	0.1	0.7	-0.45	0.77		0.31	0.75	-0.54	0.35	CI
ELV	-0.42	0.46	0.07	0.1	0.31		0.4	-0.73	-0.02	ELV
BDX	0.02	0.53	-0.58	0.81	0.75	0.4		-0.65	0.53	BDX
ARGX	0.32	-0.5	0.38	-0.56	-0.54	-0.73	-0.65		-0.48	ARGX
TAK	0.26	0.01	-0.55	0.7	0.35	-0.02	0.53	-0.48		TAK
	COR	REGN	IDXX	HLN	CI	ELV	BDX	ARGX	TAK

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

BDX	+ 0.81	HLN
CI	+ 0.77	HLN
BDX	+ 0.75	CI
CI	+ 0.7	REGN
TAK	+ 0.7	HLN
HLN	+ 0.53	REGN

High negative correlations

HLN	- 0.74	IDXX
ARGX	- 0.73	ELV
ARGX	- 0.65	BDX
BDX	- 0.58	IDXX
ARGX	- 0.56	HLN
TAK	- 0.55	IDXX

Risk-Adjusted Indicators

There is a big difference between Amphastar Stock performing well and Amphastar 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 Amphastar'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
COR	1.18	(0.01)	(0.03)	(0.02)	2.33	(1.04)	2.01	(2.62)	10.81
REGN	1.58	0.30	0.16	0.76	1.45	(1.95)	3.40	(3.11)	8.86
IDXX	1.27	(0.24)	0.00	(0.17)	0.00	0.00	3.61	(3.18)	10.16
HLN	1.00	0.22	0.14	0.94	0.97	(1.10)	2.81	(1.81)	6.06
CI	1.22	0.15	0.10	0.26	1.15	(1.41)	3.15	(2.24)	7.49
ELV	1.64	0.14	0.06	0.15	2.79	(1.78)	3.78	(2.51)	19.95
BDX	1.21	0.27	0.26	0.34	0.68	(1.55)	4.06	(1.77)	7.13
ARGX	1.17	(0.08)	0.00	0.61	0.00	0.00	2.29	(3.07)	7.34
TAK	0.90	0.42	0.50	2.18	0.00	(1.12)	2.49	(1.04)	4.49

Amphastar Corporate Management

Ziping Luo	Chief Chairman	Profile
Peter Langosh	VP Audit	Profile
MBA MPH	Executive Operations	Profile
MP MBA	Senior Operations	Profile
Rong MS	Senior Production	Profile
Dan MBA	Senior Communication	Profile

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