Anixa Biosciences Correlations

ANIX Stock

USD 2.94 0.06 2.00%

The current 90-days correlation between Anixa Biosciences and Cue Biopharma is 0.16 (i.e., Average diversification). The correlation of Anixa Biosciences 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.

Anixa Biosciences Correlation With Market

Average diversification

The correlation between Anixa Biosciences and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Anixa Biosciences 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 Anixa Biosciences. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

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

Moving together with Anixa Stock

0.88	JNJ	Johnson Johnson	Pair Corr
0.62	INZY	Inozyme Pharma	Pair Corr
0.73	KRYS	Krystal Biotech	Pair Corr
0.75	NKTX	Nkarta Inc	Pair Corr
0.84	PDSB	PDS Biotechnology Corp	Pair Corr
0.83	ABOS	Acumen Pharmaceuticals	Pair Corr
0.72	ADAP	Adaptimmune Therapeutics	Pair Corr
0.83	AFMD	Affimed NV	Pair Corr
0.7	AGIO	Agios Pharm	Pair Corr
0.84	AMGN	Amgen Inc Earnings Call This Week	Pair Corr
0.8	AMLX	Amylyx Pharmaceuticals	Pair Corr
0.71	STOK	Stoke Therapeutics	Pair Corr
0.79	BDTX	Black Diamond Therap	Pair Corr
0.83	CRVS	Corvus Pharmaceuticals	Pair Corr
0.8	DAWN	Day One Biopharmaceu	Pair Corr
0.77	CVS	CVS Health Corp Earnings Call This Week	Pair Corr
0.74	ACET	Adicet Bio	Pair Corr
0.86	SHG	Shinhan Financial Earnings Call This Week	Pair Corr
0.78	WF	Woori Financial Group Earnings Call This Week	Pair Corr

Moving against Anixa Stock

0.62	MLAB	Mesa Laboratories Earnings Call This Week	Pair Corr
0.42	XFOR	X4 Pharmaceuticals	Pair Corr
0.8	FNMFO	Federal National Mortgage	Pair Corr
0.47	MNPR	Monopar Therapeutics	Pair Corr
0.42	TGNA	Tegna Inc	Pair Corr
0.32	AVAL	Grupo Aval	Pair Corr

Related Correlations Analysis

	CUE	INMB	INAB	PYPD	TFFP	IMNM	ANVS	AVTE	ADAG	ACRV
CUE		0.46	0.38	0.37	0.13	0.14	0.6	-0.18	0.59	0.5	CUE
INMB	0.46		-0.09	0.0	-0.36	-0.25	-0.02	-0.1	-0.06	-0.22	INMB
INAB	0.38	-0.09		0.24	0.52	0.29	0.38	0.21	0.29	0.37	INAB
PYPD	0.37	0.0	0.24		0.4	-0.15	0.52	-0.08	0.41	0.35	PYPD
TFFP	0.13	-0.36	0.52	0.4		0.55	0.74	0.01	0.66	0.77	TFFP
IMNM	0.14	-0.25	0.29	-0.15	0.55		0.4	0.08	0.48	0.67	IMNM
ANVS	0.6	-0.02	0.38	0.52	0.74	0.4		-0.28	0.94	0.83	ANVS
AVTE	-0.18	-0.1	0.21	-0.08	0.01	0.08	-0.28		-0.23	-0.1	AVTE
ADAG	0.59	-0.06	0.29	0.41	0.66	0.48	0.94	-0.23		0.85	ADAG
ACRV	0.5	-0.22	0.37	0.35	0.77	0.67	0.83	-0.1	0.85		ACRV
	CUE	INMB	INAB	PYPD	TFFP	IMNM	ANVS	AVTE	ADAG	ACRV

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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

ADAG	+ 0.94	ANVS
ACRV	+ 0.85	ADAG
ACRV	+ 0.83	ANVS
ACRV	+ 0.77	TFFP
ANVS	+ 0.74	TFFP
ACRV	+ 0.67	IMNM

High negative correlations

TFFP	- 0.36	INMB
AVTE	- 0.28	ANVS
IMNM	- 0.25	INMB
ADAG	- 0.23	AVTE
ACRV	- 0.22	INMB
AVTE	- 0.18	CUE

Risk-Adjusted Indicators

There is a big difference between Anixa Stock performing well and Anixa Biosciences 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 Anixa Biosciences' 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
CUE	6.12	0.03	0.00	0.12	6.50	(7.90)	14.88	(11.26)	38.78
INMB	4.30	1.00	0.20	9.75	4.10	(5.03)	12.97	(7.67)	27.99
INAB	5.09	(0.18)	0.00	(0.21)	0.00	0.00	11.54	(10.81)	36.85
PYPD	3.92	(0.10)	0.00	(0.28)	0.00	0.00	9.00	(7.90)	41.24
TFFP	8.04	(3.36)	0.00	(1.54)	0.00	0.00	11.11	(21.20)	95.77
IMNM	3.65	(0.20)	0.00	(0.07)	0.00	0.00	10.53	(6.91)	24.40
ANVS	3.38	(0.86)	0.00	(4.75)	0.00	0.00	6.32	(6.71)	21.05
AVTE	1.98	0.37	0.15	8.85	1.55	(2.89)	5.53	(3.10)	18.16
ADAG	3.72	(0.52)	0.00	2.80	0.00	0.00	5.26	(8.33)	41.45
ACRV	3.44	(0.49)	0.00	(0.33)	0.00	0.00	8.45	(9.66)	26.67

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