Evofem Biosciences Correlations
| EVFMDDelisted Stock | 0.64 0.05 8.47% |
The correlation of Evofem 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.
Evofem Biosciences Correlation With Market
Very good diversification
The correlation between Evofem Biosciences and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Evofem Biosciences and DJI in the same portfolio, assuming nothing else is changed.
Evofem |
The ability to find closely correlated positions to Evofem Biosciences could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Evofem Biosciences when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Evofem Biosciences - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Evofem Biosciences to buy it.
Moving together with Evofem OTC Stock
| 0.66 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.74 | KO | Coca Cola Aggressive Push | PairCorr |
Moving against Evofem OTC Stock
| 0.93 | NVDA | NVIDIA | PairCorr |
| 0.92 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.87 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.83 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.81 | META | Meta Platforms Aggressive Push | PairCorr |
| 0.81 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.8 | CVX | Chevron Corp Sell-off Trend | PairCorr |
| 0.78 | PLTR | Palantir Technologies Aggressive Push | PairCorr |
| 0.77 | HPQ | HP Inc | PairCorr |
| 0.76 | T | ATT Inc Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.75 | GOOG | Alphabet Class C Sell-off Trend | PairCorr |
| 0.73 | WMT | Walmart Aggressive Push | PairCorr |
| 0.73 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.71 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.7 | AMZN | Amazon Inc Aggressive Push | PairCorr |
| 0.67 | DIS | Walt Disney Sell-off Trend | PairCorr |
| 0.66 | BMYMP | Bristol Myers Squibb | PairCorr |
| 0.55 | AAPL | Apple Inc Aggressive Push | PairCorr |
| 0.51 | IBM | International Business Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.38 | MCD | McDonalds Fiscal Year End 3rd of February 2025 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 Evofem OTC Stock performing well and Evofem Biosciences OTC Stock 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 Evofem 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GNTX | 1.13 | (0.10) | (0.09) | (0.01) | 1.43 | 2.24 | 7.93 | |||
| MGA | 1.62 | (0.02) | 0.01 | 0.11 | 2.26 | 3.06 | 11.56 | |||
| PCAR | 1.26 | 0.14 | 0.14 | 0.23 | 1.14 | 3.32 | 10.18 | |||
| LIDR | 3.16 | (0.26) | 0.00 | (0.08) | 0.00 | 7.55 | 17.33 | |||
| BWA | 1.33 | (0.11) | (0.05) | 0.03 | 1.70 | 2.84 | 7.85 | |||
| CNLFF | 0.05 | 0.02 | 0.00 | (1.28) | 0.00 | 0.00 | 1.03 | |||
| PLTK | 1.18 | 0.07 | 0.03 | 0.21 | 1.24 | 2.33 | 7.19 |
Evofem Biosciences 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 Evofem Biosciences otc stock to make a market-neutral strategy. Peer analysis of Evofem Biosciences could also be used in its relative valuation, which is a method of valuing Evofem Biosciences by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Still Interested in Evofem Biosciences?
Investing in delisted otcs can be risky, as the otc 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.