Axsome Therapeutics Correlations

AXSM Stock

USD 108.85 3.71 3.53%

The current 90-days correlation between Axsome Therapeutics and ImmunoGen is -0.04 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Axsome Therapeutics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Axsome Therapeutics moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Axsome Therapeutics Correlation With Market

Modest diversification

The correlation between Axsome Therapeutics and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Axsome Therapeutics 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 Axsome Therapeutics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

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

Moving together with Axsome Stock

0.61	BMY	Bristol Myers Squibb Earnings Call This Week	Pair Corr
0.64	BPMC	Blueprint Medicines Corp Sell-off Trend	Pair Corr
0.63	CVS	CVS Health Corp Earnings Call This Week	Pair Corr

Moving against Axsome Stock

0.6	LPTX	Leap Therapeutics	Pair Corr
0.43	XFOR	X4 Pharmaceuticals	Pair Corr
0.41	INZY	Inozyme Pharma	Pair Corr
0.38	MREO	Mereo BioPharma Group	Pair Corr
0.32	ABBV	AbbVie Inc Earnings Call Today	Pair Corr
0.31	APTO	Aptose Biosciences	Pair Corr

Related Correlations Analysis

	INCY	IMGN	SRPT	ACAD	VKTX	MDGL	MCRB	ICPT	TGTX	TERN
INCY		-0.22	-0.19	0.1	0.28	0.47	-0.4	0.19	0.04	0.3	INCY
IMGN	-0.22		-0.31	0.82	-0.93	0.44	0.38	-0.81	0.57	-0.65	IMGN
SRPT	-0.19	-0.31		-0.3	0.34	-0.24	0.51	-0.12	-0.16	0.3	SRPT
ACAD	0.1	0.82	-0.3		-0.74	0.51	0.19	-0.66	0.49	-0.47	ACAD
VKTX	0.28	-0.93	0.34	-0.74		-0.34	-0.36	0.8	-0.47	0.79	VKTX
MDGL	0.47	0.44	-0.24	0.51	-0.34		0.25	-0.47	0.55	-0.13	MDGL
MCRB	-0.4	0.38	0.51	0.19	-0.36	0.25		-0.64	0.33	-0.23	MCRB
ICPT	0.19	-0.81	-0.12	-0.66	0.8	-0.47	-0.64		-0.67	0.56	ICPT
TGTX	0.04	0.57	-0.16	0.49	-0.47	0.55	0.33	-0.67		-0.19	TGTX
TERN	0.3	-0.65	0.3	-0.47	0.79	-0.13	-0.23	0.56	-0.19		TERN
	INCY	IMGN	SRPT	ACAD	VKTX	MDGL	MCRB	ICPT	TGTX	TERN

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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

ACAD	+ 0.82	IMGN
ICPT	+ 0.8	VKTX
TERN	+ 0.79	VKTX
TGTX	+ 0.57	IMGN
TERN	+ 0.56	ICPT
TGTX	+ 0.55	MDGL

High negative correlations

VKTX	- 0.93	IMGN
ICPT	- 0.81	IMGN
VKTX	- 0.74	ACAD
TGTX	- 0.67	ICPT
ICPT	- 0.66	ACAD
TERN	- 0.65	IMGN

Risk-Adjusted Indicators

There is a big difference between Axsome Stock performing well and Axsome Therapeutics 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 Axsome Therapeutics' 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
INCY	1.64	0.17	0.05	0.54	2.17	(1.57)	3.27	(3.42)	20.37
IMGN	5.45	2.85	1.08	1.74	1.44	(6.91)	8.32	(4.16)	141.41
SRPT	1.82	(0.24)	0.00	(0.36)	0.00	0.00	3.38	(4.19)	18.92
ACAD	2.27	0.38	0.13	0.86	2.10	(2.60)	7.13	(4.22)	15.53
VKTX	3.12	(1.19)	0.00	(0.83)	0.00	0.00	4.52	(9.14)	24.60
MDGL	3.24	0.81	0.21	1.03	3.01	(3.74)	5.74	(5.25)	33.61
MCRB	4.70	0.37	0.08	0.38	4.12	(7.23)	15.58	(6.78)	28.84
ICPT	2.96	(0.80)	0.00	(4.77)	0.00	0.00	5.23	(8.32)	38.17
TGTX	3.31	0.58	0.13	1.07	3.69	(3.73)	7.48	(6.82)	24.51
TERN	3.11	(0.64)	0.00	1.10	0.00	0.00	5.17	(6.75)	26.61

Axsome Therapeutics Corporate Management

Hunter Esq	General Secretary	Profile
Amanda PharmD	Senior Development	Profile
Lori MBA	Executive Development	Profile
Kevin PharmD	Ex Strategy	Profile
Mark MA	Chief Officer	Profile

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