Candel Therapeutics Correlations

CADL Stock

USD 7.10 0.00 0.00%

The current 90-days correlation between Candel Therapeutics and Aerovate Therapeutics is -0.03 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Candel Therapeutics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Candel Therapeutics moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Candel Therapeutics Correlation With Market

Significant diversification

The correlation between Candel Therapeutics and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Candel 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 Candel 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 unemployment.

For more information on how to buy Candel Stock please use our How to buy in Candel Stock guide.

Moving together with Candel Stock

0.75	ALTS	ALT5 Sigma Symbol Change	Pair Corr
0.62	BFRI	Biofrontera	Pair Corr

Moving against Candel Stock

0.81	CVS	CVS Health Corp Earnings Call This Week	Pair Corr
0.81	PNTG	Pennant Group	Pair Corr
0.78	EHC	Encompass Health Corp Earnings Call This Week	Pair Corr
0.77	ENSG	Ensign Group	Pair Corr
0.72	JNJ	Johnson Johnson	Pair Corr
0.69	NHC	National HealthCare	Pair Corr
0.68	DERM	Journey Medical Corp Upward Rally	Pair Corr
0.68	INNV	InnovAge Holding Corp Earnings Call This Week	Pair Corr
0.63	AMGN	Amgen Inc Earnings Call This Week	Pair Corr
0.6	UPC	Universe Pharmaceuticals	Pair Corr
0.54	MD	Mednax Inc	Pair Corr
0.49	SEM	Select Medical Holdings	Pair Corr
0.39	SNOA	Sonoma Pharmaceuticals Earnings Call This Week	Pair Corr
0.37	SHPH	Shuttle Pharmaceuticals	Pair Corr
0.66	VLY	Valley National Bancorp	Pair Corr
0.63	301301	Yili Chuanning Biote	Pair Corr
0.59	688670	Jiangsu GDK Biotechnology	Pair Corr
0.58	688739	Liaoning Chengda Bio	Pair Corr
0.58	906548CR1	US906548CR12	Pair Corr
0.56	300871	Wuhan Hvsen Biotechnology	Pair Corr
0.56	BRK-B	Berkshire Hathaway	Pair Corr
0.51	688639	Anhui Huaheng Biotec	Pair Corr
0.5	300439	Ningbo MedicalSystem	Pair Corr
0.43	TD	Toronto Dominion Bank Earnings Call This Week	Pair Corr
0.31	688217	Shanghai Rightongene	Pair Corr

Related Correlations Analysis

	AVTE	ADAG	ACRV	RZLT	ANTX	MOLN	MLYS	PHVS	PEPG	PMVP
AVTE		-0.23	-0.1	-0.04	0.29	-0.34	0.11	-0.05	-0.24	0.06	AVTE
ADAG	-0.23		0.85	0.69	-0.47	0.74	0.73	0.83	0.85	0.7	ADAG
ACRV	-0.1	0.85		0.64	-0.32	0.64	0.81	0.75	0.82	0.85	ACRV
RZLT	-0.04	0.69	0.64		-0.47	0.54	0.58	0.55	0.55	0.62	RZLT
ANTX	0.29	-0.47	-0.32	-0.47		-0.35	-0.05	-0.37	-0.13	-0.18	ANTX
MOLN	-0.34	0.74	0.64	0.54	-0.35		0.46	0.61	0.66	0.52	MOLN
MLYS	0.11	0.73	0.81	0.58	-0.05	0.46		0.68	0.83	0.83	MLYS
PHVS	-0.05	0.83	0.75	0.55	-0.37	0.61	0.68		0.71	0.62	PHVS
PEPG	-0.24	0.85	0.82	0.55	-0.13	0.66	0.83	0.71		0.79	PEPG
PMVP	0.06	0.7	0.85	0.62	-0.18	0.52	0.83	0.62	0.79		PMVP
	AVTE	ADAG	ACRV	RZLT	ANTX	MOLN	MLYS	PHVS	PEPG	PMVP

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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

ACRV	+ 0.85	ADAG
PEPG	+ 0.85	ADAG
PMVP	+ 0.85	ACRV
PHVS	+ 0.83	ADAG
PEPG	+ 0.83	MLYS
PMVP	+ 0.83	MLYS

High negative correlations

ANTX	- 0.47	RZLT
ANTX	- 0.47	ADAG
PHVS	- 0.37	ANTX
MOLN	- 0.35	ANTX
MOLN	- 0.34	AVTE
ANTX	- 0.32	ACRV

Risk-Adjusted Indicators

There is a big difference between Candel Stock performing well and Candel 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 Candel 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
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
RZLT	2.86	(0.09)	0.00	(0.05)	0.00	0.00	6.80	(5.95)	19.56
ANTX	2.98	0.15	0.05	0.23	2.55	(5.16)	8.94	(4.72)	28.89
MOLN	3.37	(0.15)	0.00	(0.33)	0.00	0.00	8.43	(6.35)	23.47
MLYS	3.50	(0.38)	0.00	(0.52)	0.00	0.00	7.79	(6.95)	26.52
PHVS	3.13	(0.22)	0.00	(1.51)	0.00	0.00	6.28	(7.49)	20.31
PEPG	4.71	(2.46)	0.00	(3.62)	0.00	0.00	6.70	(11.25)	32.13
PMVP	1.86	(0.17)	0.00	(0.70)	0.00	0.00	4.35	(4.57)	12.59

Candel Therapeutics Corporate Management

Francesca MD	Chief Officer	Profile
LLM JD	Chief Officer	Profile
Nathan Caffo	Chief Officer	Profile
MS MD	Chief Officer	Profile
FMEDSCI MD	CEO Pres	Profile

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