Harrow Health Correlations

HROW Stock

USD 47.73 0.04 0.08%

The current 90-days correlation between Harrow Health and Evotec SE ADR is 0.01 (i.e., Significant diversification). The correlation of Harrow Health 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.

Harrow Health Correlation With Market

Poor diversification

The correlation between Harrow Health and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harrow Health and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Harrow Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Harrow Health. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

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

Moving together with Harrow Stock

0.74	VRCA	Verrica Pharmaceuticals	Pair Corr
0.68	TEV	Teva Pharmaceutical	Pair Corr
0.61	MRK	Merck KGaA	Pair Corr
0.66	BRM	Bristol Myers Squibb	Pair Corr
0.66	C43	Cosmo Pharmaceuticals	Pair Corr
0.74	TLRY	Tilray Inc Split	Pair Corr
0.7	HHU	ALLERGY THER PLC	Pair Corr

Moving against Harrow Stock

0.79	KG	Kestrel Group Symbol Change	Pair Corr
0.5	HCM	HUTCHMED China	Pair Corr
0.49	IQ70	1CM INC	Pair Corr
0.46	BSFA	ANI Pharmaceuticals	Pair Corr
0.45	ELTX	Elicio Therapeutics	Pair Corr
0.42	NXS	Next Science	Pair Corr
0.66	BGM	Qilian International Earnings Call Tomorrow	Pair Corr
0.39	3ZQ0	AYURCANN HOLDINGS	Pair Corr
0.37	HIK	Hikma Pharmaceuticals PLC	Pair Corr
0.32	HCM	HUTCHMED DRC	Pair Corr

Related Correlations Analysis

	EVO	TLRY	DVAX	AMPH	BLFS	COLL	KMTS	ALVO	TRVI	PHR
EVO		-0.49	0.87	0.53	-0.46	-0.15	-0.37	-0.27	-0.57	-0.56	EVO
TLRY	-0.49		-0.48	-0.35	0.43	0.11	0.3	0.16	0.1	0.44	TLRY
DVAX	0.87	-0.48		0.41	-0.56	-0.25	-0.37	-0.35	-0.69	-0.68	DVAX
AMPH	0.53	-0.35	0.41		-0.33	0.1	0.11	-0.36	-0.09	-0.32	AMPH
BLFS	-0.46	0.43	-0.56	-0.33		0.12	0.1	0.07	0.41	0.76	BLFS
COLL	-0.15	0.11	-0.25	0.1	0.12		0.12	-0.08	0.58	-0.14	COLL
KMTS	-0.37	0.3	-0.37	0.11	0.1	0.12		0.04	0.23	0.01	KMTS
ALVO	-0.27	0.16	-0.35	-0.36	0.07	-0.08	0.04		0.11	0.22	ALVO
TRVI	-0.57	0.1	-0.69	-0.09	0.41	0.58	0.23	0.11		0.36	TRVI
PHR	-0.56	0.44	-0.68	-0.32	0.76	-0.14	0.01	0.22	0.36		PHR
	EVO	TLRY	DVAX	AMPH	BLFS	COLL	KMTS	ALVO	TRVI	PHR

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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

DVAX	+ 0.87	EVO
PHR	+ 0.76	BLFS
TRVI	+ 0.58	COLL
AMPH	+ 0.53	EVO
PHR	+ 0.44	TLRY
BLFS	+ 0.43	TLRY

High negative correlations

TRVI	- 0.69	DVAX
PHR	- 0.68	DVAX
TRVI	- 0.57	EVO
BLFS	- 0.56	DVAX
PHR	- 0.56	EVO
TLRY	- 0.49	EVO

Risk-Adjusted Indicators

There is a big difference between Harrow Stock performing well and Harrow Health 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 Harrow Health'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
EVO	2.48	0.21	0.07	0.23	2.84	(2.70)	5.72	(4.73)	16.20
TLRY	4.86	(0.58)	0.00	(1.05)	0.00	0.00	7.64	(8.43)	54.17
DVAX	1.69	0.79	0.48	(1.06)	0.44	(2.32)	2.76	(1.46)	39.08
AMPH	1.84	0.06	0.04	0.11	2.14	(1.99)	3.98	(3.64)	12.32
BLFS	1.79	(0.32)	0.00	(0.16)	0.00	0.00	3.19	(4.11)	17.79
COLL	1.61	0.05	0.01	0.13	2.19	(1.54)	3.89	(3.40)	12.24
KMTS	2.58	0.02	0.01	0.08	3.86	(2.45)	4.70	(7.02)	20.54
ALVO	2.65	(0.26)	0.00	(0.20)	0.00	0.00	6.42	(6.38)	16.71
TRVI	2.86	(0.16)	0.00	(0.11)	0.00	0.00	6.73	(5.03)	25.67
PHR	2.26	(1.00)	0.00	(0.56)	0.00	0.00	2.27	(4.85)	28.56

Harrow Health Corporate Management

Robert DDS	Special Advisor	Profile
Jamie Webb	Director Relations	Profile
Prashanth Annavajjhala	Chief Staff	Profile
PharmD Shojaei	Chief Officer	Profile
David Moufarrge	VP Technology	Profile
RPh Mannebach	Head Pharmacovigilance	Profile
Brett Burrell	Vice Compliance	Profile

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