ESSA Pharma Correlations
| EPIXDelisted Stock | USD 0.20 0.00 0.00% |
The correlation of ESSA Pharma 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.
ESSA Pharma Correlation With Market
Excellent diversification
The correlation between ESSA Pharma and DJI is -0.68 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ESSA Pharma and DJI in the same portfolio, assuming nothing else is changed.
ESSA |
Moving together with ESSA Stock
Moving against ESSA Stock
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| 0.91 | MBFJF | Mitsubishi UFJ Financial | PairCorr |
| 0.9 | GEL | Genesis Energy LP | PairCorr |
| 0.9 | CMI | Cummins | PairCorr |
| 0.87 | BNL | Broadstone Net Lease Sell-off Trend | PairCorr |
| 0.86 | MZHOF | Mizuho Financial | PairCorr |
| 0.84 | JPSTF | JAPAN POST BANK | PairCorr |
| 0.84 | ABCB | Ameris Bancorp | PairCorr |
| 0.84 | SBKO | Summit Bank Group | PairCorr |
| 0.83 | TWMIF | Tidewater Midstream and Earnings Call This Week | PairCorr |
| 0.82 | ESCA | Escalade Incorporated | PairCorr |
| 0.81 | CAPL | Crossamerica Partners | PairCorr |
| 0.8 | NTRSO | Northern Trust | PairCorr |
| 0.78 | BKCYF | Bank Of Cyprus Holdings P Normal Trading | PairCorr |
| 0.78 | MFGCF | Mayfair Gold Corp | PairCorr |
| 0.77 | VKQ | Invesco Municipal Trust | PairCorr |
| 0.76 | OXY | Occidental Petroleum Aggressive Push | PairCorr |
| 0.75 | BKRKY | Bank Rakyat | PairCorr |
| 0.64 | XYIGY | Xinyi Glass Holdings | PairCorr |
| 0.5 | NBTRF | Nobel Resources Corp | PairCorr |
| 0.48 | POGS | Pioneer Oil Gas | PairCorr |
| 0.35 | PTBRY | Bank Negara Indonesia | PairCorr |
| 0.96 | WEJTY | Webjet Limited | PairCorr |
| 0.91 | TDY | Teledyne Technologies | PairCorr |
| 0.9 | IFS | Intercorp Financial | PairCorr |
| 0.89 | VALE | Vale SA ADR Aggressive Push | PairCorr |
| 0.89 | INGR | Ingredion Incorporated | PairCorr |
| 0.87 | VHI | Valhi Inc Earnings Call This Week | PairCorr |
| 0.87 | RHHVF | Roche Holding AG | PairCorr |
| 0.85 | GRBK | Green Brick Partners Downward Rally | PairCorr |
| 0.85 | ALFVF | Alfa Laval AB | PairCorr |
| 0.84 | TG | Tredegar | PairCorr |
| 0.83 | WLK | Westlake Chemical | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between ESSA Stock performing well and ESSA Pharma 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 ESSA Pharma'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| APGN | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| TNFA | 8.70 | (0.43) | 0.00 | 0.31 | 0.00 | 17.75 | 79.44 | |||
| CSCI | 8.09 | 1.21 | 0.08 | 1.25 | 10.25 | 34.67 | 94.83 | |||
| CRVO | 3.72 | (1.06) | 0.00 | (1.16) | 0.00 | 6.84 | 26.91 | |||
| CHRO | 5.31 | 0.27 | 0.04 | 0.38 | 5.79 | 10.27 | 68.90 | |||
| SCPX | 229.75 | 113.88 | 1.98 | 1.47 | 41.53 | 733.33 | 4,498 | |||
| BIOR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| KRRO | 3.81 | 0.97 | 0.29 | 0.64 | 2.92 | 10.98 | 20.29 | |||
| TSBX | 2.57 | 0.18 | 0.02 | 2.56 | 3.05 | 6.06 | 21.24 |
ESSA Pharma Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with ESSA Pharma stock to make a market-neutral strategy. Peer analysis of ESSA Pharma could also be used in its relative valuation, which is a method of valuing ESSA Pharma by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
ESSA Pharma Corporate Management
| Erin Rudsinski | Executive | Profile | |
| Jim Bristol | Consultant | Profile | |
| CMA CPA | Chief Officer | Profile | |
| Roger Ulrich | Consultant | Profile | |
| Kim Hewitt | Consultant | Profile | |
| Neil Thapar | Executive | Profile | |
| Alessandra MD | Chief Officer | Profile |
Still Interested in ESSA Pharma?
Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.